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Reddit's Valuation Has Fallen Even Further, Fidelity Says (gizmodo.com)

submitted 2 years ago by L4s to c/technology

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Fidelity estimates Reddit's holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

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[–] [email protected] 6 points 2 years ago (2 children)

Remember that there is a general decline in tech stocks at the moment. A few names are being elevated by the AI boom, but for the most part the party has been over for quite a while now. If you keep an eye open, you'll see stories about a number of different tech stocks declining.

Every time I see such a story, I tend to reply with "why would Elon Musk do this?" Since people acted like Twitter was a unique case being caused exclusively by his leadership, but we've seen massive declines in many companies including Meta and Netflix.

[–] silentdon 15 points 2 years ago (1 children)

True but most tech companies have been making their services worse and driving away customers

[–] [email protected] 4 points 2 years ago

Very true.

[–] ricdeh 4 points 2 years ago

Yeah that's true, I didn't consider that. But it coincides with the API changes in such a way that it at least makes for a good story lol