They have a price that's still hundreds of times above their earnings. The stock is comically overvalued. It isn't crashing and it has nothing to do with Luigi posting. Air is just coming out of an equities market that's been hyper-inflated since before COVID.
I fear that a manufactured depression is forming that will completely wipe out the remnants of the middle class (workers who own assets).
Seems to be the intent
I mean things could not matter potentially but I left Reddit permanently and came here cause of this.
Echoing this.
Fuck Spez, and all that, but really, this chart isn't much different from nearly every stock for the same time period.
I think that dip has more to do with Trump creating uncertainty in the market overall than any specific Reddit trend/policy.
Kinda...
For comparison, the S&P 500 felt 4% on the period, Nasdaq felt 7%. So 30% is really noteworth, Redddit is one of the stocks pulling the index down. But it's not alone, and blaming it on any random cause isn't right.
Yah, I was going to say the same thing. S&P not only dropped much less, it dropped at a different time and slope. S&P dropped in line with when Trump took office and has been relatively flat. Reddit has been on a constant decline since the start of the year.
[ Removed by Reddit ]
shortly after the article came out talking about how Reddit is bending the knee to Musky's hissy fit, I received two notifications from Reddit; one, a 7-Day ban for "breaking multiple rules" but not telling me what actually happened, and after sending them an appeal asking what exactly I was banned for, I received the second notification, telling me that I was permanently banned for, again, "breaking multiple rules".
as far as I'm concerned, I'm finally free.
I've been banned by reddit many times, but they always coincided with disagreeing with a mod. They don't need to tell you what rules you broke when it was just a disagreement.
I just got a 3 day ban for saying that it's everyone's civic duty to doxx anyone they know involved in this current administration's nazi bullshit.
I still stand by that, and as soon as the ban clears I'm going to be wiping my account and closing it for good. Fuck that place.
Ooopsie, there goes your money. Not exactly a good idea to cross your community, is it?
Free Luigi.
Once upon a time I went to Reddit as a Digg refugee. Now I have come to Lemmy as a Reddit refugee.
I mean there's little point to become invested in reddit when they're going skew that far right and then censor/delete and ban everything with appeals getting ignored.
Communities are having to over moderate. I can't even say Fuck Christians or Billionaires shouldn't exist without it being hate speech or violence, but rightiods get to spam their lgbtq hate. And the less said about violent Porn subs the better.
Truely a dark time 😮💨
r/guro is still up r/beastlove probably is r/guroerotica r/dykebreaking
Tons and tons of violent misogyny subs. There’s a family of them around “degrading women” or whatever.
This isn’t necessarily an opposition to people enjoying dark themes in porn. But these communities aren’t even quarantined. The comment sections often are disturbing and violent in a way that even wishing Musk an enjoyable mission to the sun doesn’t compare. It’s naked hypocrisy.
I think this is important. The fascists don’t have an opposition to porn, especially violent heterosexual porn. I’ve continued to hear about how Twitter is “good” for porn.
IMO, anybody who invested is a fool. AFAIK the only user-generated content companies that have made the model work are Google (YouTube) and Meta, and that's because they're the advertising duopoly that controls the Internet. Maybe TikTok, but that one's a mess. Twitter couldn't do it, even before Elon they were a big money loser.
So, what does Reddit have that other companies don't? Nothing really. And now that they did their IPO their investors are going to start demanding growth, which means enshittification. But, unlike YouTube where there's no viable competitor, or Facebook / Instagram where there are network effects locking people in. Reddit users are mostly pseudonymous. IMO that also means much more likely to jump to another platform like Lemmy.
Please people, if you are going to look at stock prices, look back a year, two, or more. Reddit was slightly up from its 5 year point when in October 2024, like many other stocks, it wildly went up. It isn't yet back down to the pre-October level. Someone (Musk and fellow billionaires?) have been playing these markets since the last US election to game money out of everyone else. There was no value in the business to justify the jump, just a pump and dump scheme to graft money out of the lower classes/pension portfolios.
1M chart doesn't show anything. We can see that the decline started on 7th Feb, together with US stock market in general. It has nothing to do with "Reddit siding with Musk".
Luckily it's dropping again. Burn baby burn.
Not surprising seeing as theyve also been unjustly banning people again. Just got booted off the site today and was given zero explanation besides I "incited violence." The link to the supposed "violation" didnt work then when I asked in my appeal they wouldnt tell me anything. Im left to assume its because my politics didnt agree with the current regime.
Musk has been pressuring them to go after critics of him, and the administration, and Reddit is capitulating. Cowards.
I suspect it is because they want to buy TikTok, and they know HitlerPig will award it based on appeasement and the bribe.
Given that Xitter is going down the proverbial toilet, I am surprised Reddt didn't see the risks in turning their platform into a right-wing cesspool.
This is u/spez we're talking about here c'mon.
Spaz IS a right wing cesspool. So it is to be expected
Last week, I got a 3 day ban from Reddit. The next day it turned into a permanent ban. Reddit claimed that it was due to a comment made about a video, showing a coach pull the ponytail of one of the girls on his team. While I don't recall what my comment was, as the father of a HS girl who plays sports, it bothered me, but as a man in his 50s, who played football in the 1980s, who periodically got his ass kicked by his coach, when he screwed up, it didn't bother me enough to say anything terrible. Of course, they deleted the post, and refused to elaborate. I've been supportive of Luigi, and have heard that Reddit was coming after Luigi supporters, so I thought that could be the real reason. Who really knows?
I had a 12 year account and almost a million karma, and was permabanned after the inauguration for a comment i had made many times. I came to Lemmy and found i was part of a bloodbath.
I've seen many people with bans on 10+ year accounts. We're the people who built Reddit. Somehow we managed to make thousands of posts for all those years without bans, and suddenly all of us posted lifetime-bannable posts in the same month?
I was coming up on 4 years. I haven't brought myself to deleting the app though, as there are some good subs there. I've been here for less than 1 full day so far, so I have a lot of exploring to do.
The drop started right around the first wave of bans. Fuck Reddit.
Meh, fuck em
I left however many days ago my Lemmy account says - from being a daily user ^
So it was me that caused it.
I gave up the game there after 12 years... of mostly lurking though.
I'm just trying to get permabanned for mentioning Lemmy and sharing my views on billionaires at this point
https://programming.dev/post/27667403
It is being talked about over here from a Bloomberg / yahoo finance article.
Good, let reddit die. Conversations shouldn't be profitable.
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?
Fuck /u/spez
The less I hear about that shit hole, the better I feel.
Good. Fuck em.
You guys are still using reddit?
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