I'd love for someone to buy as much Reddit stock as possible and make Reddit answer to any ridiculous demands.
General rule for posting stock prices: sometimes things are obvious when you zoom out a bit.
In this particular case, Reddit stock price is still up several percentage points from the Trump rally that affected just about every tech stock after 2024-10-30 about. Same applies to other stocks like Tesla.
So at this point it's nothing more than a return to normal. No need to attribute anything more to it. But sure, if this descends keeps going for some time more, it'll be different.
Interesting! I didnt know that so many tech stocks were impacted on that date. Is there anything special about the start date of reddit's stock decline? Or was it simple a "straw that broke the camel's back" situation, where some insignificant thing started the downward trend?
Now what I under understand (not condone) is the reddit leadership trying to cash out.
What I cant understand is why a VC / big investor would want to touch it with a 10ft pole. There is nothing unique or proprietary on Reddit. Its value commercially is in the existing content and paid ads. With ads you’re limited because you can only saturate so much before you see user drop off.
Now they took it one step further and are censoring the content creators that make it all possible in the first place. As if anyone is stuck on that site - I know I’m not.
Anyway - nice to meet everyone. Fled digg for Reddit; now thankful this island appeared after fleeing once again.
Reddit has a huge user base, that is their value. They generate a lot of data every second, which can be sold. Of course this is technically possible on other platforms, but they do have it right now right here.
A lot of overpriced stocks are pulling back. A recession is bad for ad dependent media.
Putting the red in reddit.
Unfortunately the it already left when I signed up here a couple of years back.
When you start banning long-term users over bullshit. This happens. Hope it crashes and burns all the way to the ground.
How the heck were they ever valued at $US200 per share?
Edit: (from ~$34. Market cap 6.4B initially, at $200US I estimate as ~36B, here shows a high of $38B)
Price of the share is irrelevant. Please reference market cap.
Edited to include more info, thank you for pointing it out. I'd known in my head the share price started in lower double digits without major changes in supply of shares, added it all for context.
the price is supposed to be based on future valuation
Uhh guys I hate reddit too but the entire economy is tanking.
This isnt a reddit thing and has nothing to do with reddit itself
Compare to s&p 500, nyse, NASDAQ, etc.
It's down all around but not 40% down
Not yet anyway
That’s why I’m here now.
Welcome!
Reddit is pretty useless for getting any kind of advanced information on any topic. The impression I had of the US election based on it was completely out of line with reality, so in that case it couldn't be trusted as an accurate source of information on current affairs.
People are addicted to it, but you'd have to be pretty sad to pay for it.
Blocking ads on it is a trivial matter. It never made any money.
The question is why did anyone think it would ever be worth much at all.
The impression I had of the US election based on it was completely out of line with reality
I've largely switched to Lemmy for the past two years, but this was really the last nail in the coffin for reddit for me too. It's an enforced echo-chamber and no longer a reliable source of information. It's hard to notice how bad things are when the politics are leaning in your direction, but once you see it, you can't unsee it, and it feels gross.
Lemmy is obviously pretty politically homogeneous too, but the difference is that I don't feel like someone is trying to trick me. Topics and and sources are clearly influenced by the individual posters' opinions, but it doesn't feel like there's a coordinated behind-the-scenes effort to push an agenda, which makes for a better vibe.
For me, it was the massive uptick in bans that proved the manipulation was real
your comments also wont get astroturfed by russian bots most of the time, or angry conservative doesnt know how to discern the meaning of your comments.
Reddit is pretty nice as a source of information, but mostly on smaller and more obscure things, not big political topics like US elections.. that's what the last year has taught me, at least.
Its value is equal to its usefulness as a propaganda organ. Twitter wasn't purchased to make money. A megaphone is more of a tool than an investment.
Dunno, I think Musk was forced to buy it, then he suggested it was going to be all sorts of things while massively cutting costs, before pivoting to giving Trump a quarter of a billion in order to get access to government.
I don't think there was any intention to buy twitter for propaganda, and I haven't seen any evidence that shows to what degree (if at all) it helped Trump get elected.
Stop, stop! He's already dead!
I thought they were supposedly going to be making money selling training data for AI's.
Did Luigi save us from reddit? What can’t this man do?
Yep if they remove/ban us for gaslighting us in to policing our free speech we remove them!
Free speech for the parasitic class of exploiters censoring for the 99%, no war but class war. It’s not left verses right it’s top verses bottom.
Fuck pacifism especially during tyranny and oppression don’t obey in advance we have only gained rights through disruptive riots and other direct actions . Luigi #Luigi @Luigi
I'm all for shitting on Reddit, but the overall market has cratered in the past week or so. Everything is down a ton. This is just cherry picking situational graphs to push an anti reddit agenda. Again, fuck Reddit, but at least make an effort..
Yes, but 40% is insane. Thats not just the markets 1-2% blood red days
When there’s a sellout "meme" and tech stocks with a lot of hype are amplified, and Reddit is 100% that.
See: it’s still up 165% over a year. The gyrations are insane and not tethered to its actual value, but basically a bunch of gamblers.
It was wildly overvalued to begin with. Even at 40% down its overvalued. It has a negative EPS. It can be replaced with a ragtag group of federated instances.
Its not worthless, but its not worth 133 a share cmon...
I mean it's not rare for tech lol. Nvidia is down an absolute fuck ton too. Same with AMD.
Also the entire market is down closer to 10%. The market being down 2% in a day is the overall market indexes. There are wild variances in that number per individual company.
Special price on Tesla this week. :)
You can't shove ads to people if you ban them all the time.
I don't know the actual numbers but that would only apply if their base of active users has significantly declined
Ok, so this is kind of pathetic, but my main account was banned over a week ago but I am attached to my subreddits enough that I kept browsing. You can totally navigate your subreddits, you just can't comment. They even let you up/down vote though I doubt it actually gets counted.
Anyway - they can totally still serve you ads from a banned account if you are a fool like me.
same thing, im lurking a couple subs that are niche, but too afraid to comment on other subs which im active in, beause the acct im using already has been flagged.
it correlated right around the time they banned me, like early feb, when they did to everyone else.
This particular decline was caused by a bunch of insiders, including one greedy pigboy, selling some of their shares.
That's not necessarily a sign of any problems at the company, though. These insiders are probably carrying this equity from before it ever went public and sell shares periodically as part of their (insane) compensation. For instance, the aforementioned greedy little pigboy sold $2m according to that article, but still holds more than $90m at current valuations.
There have been multiple sellers since the end of Feb that have had an impact. Pays to be an insider lol.
Specifically, insider Benjamin Seong Lee sold 92,299 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $157.35, for a total value of $14,523,247.65. Following the transaction, the insider now directly owns 115,001 shares of the company's stock, valued at approximately $18,095,407.35. This trade represents a 44.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Michelle Marie Reynolds sold 11,965 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $157.41, for a total transaction of $1,883,410.65. Following the transaction, the chief accounting officer now owns 48,418 shares in the company, valued at $7,621,477.38. The trade was a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO Steve Ladd Huffman sold 14,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $160.30, for a total transaction of $2,244,200.00. Following the transaction, the chief executive officer now directly owns 597,515 shares in the company, valued at $95,781,654.50. The trade was a 2.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
That’s not necessarily a sign of any problems at the company, though.
It's a very strong sign that there aren't a lot of people waiting to buy.
But then, as many people already commented, the market is not very hot right now.
Pretty simple - same folks who bought Xitter and Trump are pulling their $ out until Reddit starts censoring shit they don't like. It's not a coincidence that "Luigi" became a banned word last week.
Reddit sucks! 12 year user and getting banned for upvoting 'promoting violence'! I hope it goes to 0
Deleted my 14 year old account today; wasn't banned (yet) but fuck if I'm sticking around for this 1984 bullshit.
I haven’t been banned either. Currently hanging around on both platforms but I expect I’ll say goodbye to Reddit sooner or later. Lemmy is definitely less addictive (which I love). Not quite as much variety here yet either. We’ll see what happens. Think my account is 9 years old at the moment, but this level of one-sides censorship and thought policing is unacceptable.
Welcome! Glad to see all the new users here.
Thanks! I'm sure more users will come over given what they're doing
I'm a 12 year too and just switched over when they blocked Boost last week (so, right before this Luigi stuff). I have to say, after a little learning curve, I like this experience a lot better (still on Boost, BTW). Keep on tanking, Reddit; the more users that jump ship, the better. I'm planning on backing up my post/comment history before I delete my account, but otherwise I won't be looking back.
If you back out the view to 6+ mo. it matches the overall decline of the market in general. You could grab many stocks and ask the same question and it would be correlation, but not any cause by the particular company.
$134? Actually insane
Fuck the Y graph doesn't start at zero though.
Nah man, skipping keeps my data legible so you can clearly see trends
You can't see the trend there. Especially with the numbers so blurry
Missed numbers. But the overall market is tanking.
Seems like some owners of the stock, would be people that like using reddit. Which is in decline as well
Still overrated. Bad policies are being enforced and neither the algorithm nor the community are what they used to be.
¯\_(ツ)_/¯
Well, I guess that's related with the boycott to American products.
I don't understand what that would have to do with a social media site
The movement it's expanding to all areas. Check the group Buy from Europe, inside Reddit, you'll see that people are trying to go as far as possible. Also, the Dollar is loosing value against the euro lately
DJT is.
