Reddit’s 50% Plunge Fails to Entice Dip Buyers as Growth Slows
finance.yahoo.com
(Bloomberg) -- The gloomy sentiment around Reddit Inc. has failed to dissipate after its shares fell 50% from a February high, with volatile technology stocks under pressure. Most Read from BloombergGold-Rush Fever Returns to Historic New Zealand Mining TownWhat Frank Lloyd Wright Learned From the DesertBank Regulators Fight for Desks as OCC Returns to New York TowerThese US Bridges Face High Risk of Catastrophic Ship StrikesCharter Schools, Colleges Push Muni Debt Distress Near RecordThe social

The gloomy sentiment around Reddit Inc. has failed to dissipate after its shares fell 50% from a February high, with volatile technology stocks under pressure.

  • redwattlebird@lemmings.worldEnglish
    134·
    6 days ago

    It’s always been ridiculous to me that what is essentially a forum has shareholders. That’s why I left Reddit during the app debacle and haven’t looked back.

    • quack@lemmy.zipEnglish
      93·
      6 days ago

      Corporate social media was a mistake. Genuinely, I lay a lot of why the state of the western world is the way it is at the feet of Zuckerberg and his peers.

        • quack@lemmy.zipEnglish
          71·
          6 days ago

          It’s better in many ways, but one that I feel is quite important is that there’s no profit motive to keep users on the platform and engaging with advertisers for as long as possible, and therefore no need to develop the kind of exploitative algorithms that drive screen addiction and engagement through rage.