Reddit shares plunge 29% on traffic decline caused by Google AI mode
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- 1Reddit shares fell 29% on Friday, reaching $91.73.
- 2CEO Steve Huffman noted a decrease of over 1 million Reddit weekly visitors in October.
- 3Reddit warned of a low double-digit percentage decline in daily users for this quarter.
So what's the key point?
Reddit shares dropped significantly by 29% on Friday. The news is unfavorable for investors as visitor numbers are expected to decrease.
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