Reddit (RDDT) stock fell by more than 10% on Wednesday after data revealed that ChatGPT's references to the platform have plummeted. The social media company was cited in just 2% of ChatGPT responses on Tuesday, down sharply from an average of 9.7% in August and a peak of over 14% in September. Despite an almost 4% rebound in today's trading, that's still a concerning drop for a stock trading at over 100 times earnings. The decline matters because Reddit's business model is increasingly dependent on AI re ...

Shares of the social media player gained nearly 5% in midday trades on the stock market today. Reddit stock lost more than 10% Wednesday after a third-party research report indicated that the hit generative AI bot ChatGPT was citing Reddit's user posts less frequently in responses. Reddit stock lost another 1% Thursday. The stock is still down 13% for the week. In a note to clients late Thursday, Piper Sandler analyst Thomas Champion reiterated an overweight, or buy, call for Reddit with a 290 target price ...

Group 1 - Reddit, Inc. (NYSE: RDDT) shares experienced a decline of up to 12% on Wednesday due to a study by Promptwatch indicating that Reddit content cited by ChatGPT is on the decline [2] - The study suggests a potential negative impact on Reddit's user engagement and content visibility, which could affect its overall market performance [2] Group 2 - The article does not provide specific financial metrics or forecasts related to Reddit, Inc. or the broader industry [3] - There are no recommendations or investment advice given regarding the suitability of investments in Reddit or similar companies [3]

I recently joined The REIT Forum , and if you are looking for more investment ideas like this one, get them exclusively at The REIT Forum with access to our subscriber-only portfolios.When I last wrote about Reddit (NYSE: RDDT ), I expected a revenge rally in H2, as I believed the company was well positioned to exceed its Q2 revenue and earningsAmrita runs a boutique family office fund in beautiful Vancouver, where she leads the investment strategy for the family fund. The fund's objective is to invest capi ...

Market Overview - The stock market is entering its most favorable quarter, with historical strong performances from October through December, particularly for the S&P 500 and Nasdaq indices, driven by seasonal optimism and consumer spending [1] Stock Performance - The Dow Jones Industrial Average increased by 0.09% to 46,441.10, the S&P 500 rose by 0.34% to 6,711.20, and the Nasdaq closed 0.4% higher at 22,755.16 [2] - Reddit Inc. saw its stock drop by 11.87% to $202.60, with a 52-week range of $282.95 to $64.90 [2] - QuantumScape Corporation's shares surged by 18.52% to $14.59, following a partnership announcement with Corning [4] - Plug Power Inc. experienced a significant increase of 25.75% to $2.93, driven by optimism around AI's energy demands and the delivery of a 10-megawatt electrolyzer [5] - Intel Corporation's shares rose by 7.12% to $35.94 amid early talks to potentially add AMD as a foundry customer [6] - Tesla Inc. saw its stock increase by 3.31% to $459.46, as the market evaluates its new pricing strategy following the expiration of a federal tax credit [7] Competitive Pressures - Reddit's stock decline is attributed to reports that OpenAI may reduce Reddit citations, potentially impacting user traffic and data licensing deals [3] - Elon Musk's announcement of xAI developing a platform to rival information hubs like Wikipedia adds competitive pressure to Reddit [3]

Key Points Reddit's fundamentals are strong and the company is a growth machine. Its stock, however, isn't cheap, as it trades at over 100 times earnings. 10 stocks we like better than Reddit › Reddit (NYSE: RDDT) is one of the most visited websites in the world. And its focused subreddits can make it incredibly easy for advertisers to target specific types of users, without having to track them via cookies. If someone's on a particular subreddit, that's a good indicator that they are interested in ...

In the latest trading session, Reddit Inc. (RDDT) closed at $202.60, marking a -11.91% move from the previous day. This move lagged the S&P 500's daily gain of 0.34%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.42%. Prior to today's trading, shares of the company had gained 4.51% lagged the Computer and Technology sector's gain of 8.07% and outpaced the S&P 500's gain of 3.54%.Market participants will be closely following the financial results of Reddit Inc. in its upcoming rel ...

About this content About Sean Mason Sean Mason is a Senior Journalist at Proactive, having researched and written about Canadian and US equities for 20 years. Sean graduated from the University of Toronto with a BA in history and economics and has also passed the Canadian Securities Course. He previously worked at Investors Digest of Canada, Stockhouse, and SmallCapPower.com. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and action ...

Group 1 - Reddit's stock has experienced a significant decline, dropping more than 10% and falling below its 50-day moving average due to concerns about its ability to attract site traffic from ChatGPT [1][5] - Analyst Brad Erickson noted a decrease in daily active users (DAUs) and a significant drop in Reddit's citation share by ChatGPT, which has contributed to the stock's decline [2][4] - Despite the recent downturn, Reddit's stock has increased over 500% since its IPO in March 2024, driven by a growing advertising business and user growth [3] Group 2 - The stock has pulled back over 35% since reaching a record high of 282.95 on September 18, now trading at 209.10 [5] - Reddit maintains a strong Relative Strength Rating of 97 out of a possible 99, indicating its outperformance over the past year, and has an IBD Composite Rating of 94 [6]

Mentions of Reddit Inc (NYSE: RDDT) on the artificial intelligence (AI) chatbot, ChatGPT, have dropped sharply – and investors are reacting. According to Promptwatch, Reddit content appeared in 2.0% o... ...