Follow UsReddit Stock Plunges 30% as Google's AI Search Hits Traffic and User Growth
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30 Oct, 19:31
Source: Decrypt
AI Summary
Reddit shares plummet amid warnings that Google's AI search is diverting traffic, compounded by sluggish user growth and weak Q4 guidance.
Reddit shares are down 44% this week after CEO Steve Huffman warned that Google's AI-powered search features are cutting referrals, while weaker user growth and disappointing fourth-quarter guidance added to investor concerns.