Reddit, Inc.
RDDTReddit, Inc. is a social media platform and online community where users can share, discuss, and vote on a wide variety of content, including news, entertainment, and personal interests. Founded in 2005, Reddit is organized into user-created "subreddits" that cover virtually every topic imaginable, fostering active and diverse online discussions.
Company News
The article highlights two growth stocks with strong potential: Reddit and MercadoLibre. Both companies demonstrate robust user growth, increasing revenue, and promising future expansion in their respective markets of social media and e-commerce.
Retail investors focused on five key stocks during the week, driven by earnings reports, AI developments, and market speculation across tech, food, and internet sectors.
Reddit's stock experienced a 16% drop after reports showed ChatGPT reduced its reliance on Reddit's user-generated content from 14% to 2% of responses, raising concerns about the company's role in the AI ecosystem.
A class action lawsuit has been filed against Reddit alleging false statements about user traffic and advertising revenues, primarily due to Google Search's AI features disrupting Reddit's traffic and stock performance.
