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Maybe this is a dumb question, but how does the day to day health of the reddit community affect the stock price? Wouldn't a simpler explanation be that reddit stock is in decline like most other stocks right now because of the overall market uncertainty?
It could indicate that investors don't like these moves and see it as a risk for the future of the company. Or it could indicate that line goes up or down randomly, who knows, not the folks on wall street that's for sure.
Stock indexes, typical stocks, are down about 10% from highs around that period.
Stock prices are mostly speculation these days, thay don't reflect the actual financial standing of a company, but more the public perception of the company. People get pissed at reddit, dump the shares they were holding and the demand drops, so the price goes down. ...I think.
https://programming.dev/post/27667403
It is being talked about over here from a Bloomberg / yahoo finance article.
It they are linking to the Reddit's behavior?
Good, let reddit die. Conversations shouldn't be profitable.
Fuck /u/spez
Good. Fuck em.
The less I hear about that shit hole, the better I feel.
Losing after siding with a loser. Entirely predictable outcome.
Must be some hell of insider trading, shorting the stock and driving reddit to the ground cause there is no other explanation why they would keep making more stupud decisions
I know it's bizarre
Man is that overvalued as fuck.
lol. Cunts.
I didn't even know they did their IPO yet - I knew they were planning it for years though.
It's been slightly over a year since they did, IIRC.
They also sent out a ton of spam messages to their members begging them to buy stock at the time.
Yeah, it was funny to get that after I'd moved to Lemmy. (I keep my account open so I have control over deletion of comments)
IPO = enshittification guaranteed
Are those the reasons for the drop though? I've been completely oblivious to this.
That's because we give absolutely, and that's verified, zero fucks about *eddit and his piece of shit, pretending to be a human being, of a ceo
Amazing - it's almost like people here DGAF about reddit or what happens to it.
♥️✨
Couldn't have happened to a nicer company. Cheers.
I would need to verify the timelines but I am pretty sure this has jack all to do with Luigi Mangione
And... maybe look at the stock market as a whole. Again, grain of salt without a proper analysis, but this doesn't look much different than the entire stock market that is constantly fluctuating as we wonder what industries will get hit the hardest by the hourly tariffs and which are going to get exemptions and so forth.
I think it's plausible to have uncertainty as an investor given Musk pressured Huffman into censoring criticism against him. To me, seems like he has some pictures of Huffman that would make his jailbait moderating days look tame.