Reddit stock plunges 30% as Google's AI search threatens traffic and user growth
60-Word AI Digest
Reddit shares plunged 23% after the company warned that Google's AI powered search features were hurting referral traffic and could lead to a decline in daily active users. Pinterest also fell after issuing a weaker revenue outlook, as pressure on European cross border sellers weighed on its business and growth expectations.
Key Takeaways
- Reddit shares plunged 23% after the company warned that Google's AI powered search features were hurting referral traffic and could lead to a decline in daily active users.
- Pinterest also fell after issuing a weaker revenue outlook, as pressure on European cross border sellers weighed on its business and growth expectations.
- Full details and original dispatch available below.
Reddit shares plunged 23% after the company warned that Google's AI powered search features were hurting referral traffic and could lead to a decline in daily active users. Pinterest also fell after issuing a weaker revenue outlook, as pressure on European cross border sellers weighed on its business and growth expectations.
Original Publisher Attribution
This summary was curated from Economic Times.