Sure feels like they timed this IPO pretty badly. I think the ideal time to strike on this would have been a few years ago... Based on market conditions anyway. Reddit itself may just not have had their ducks lined up enough, but that's their problem, not the stock market's.
- Tech stocks trading sideways for the last year or two
- The interest rate money printer got shut off and cash is not cheap anymore
- Seemingly all the major new tech stock investment interest is circling around stuff like AI
- Federated alternatives are slowly building steam and people seem to have gotten pretty salty about corporate social media
- The pandemic is more or less over and people have pulled back from being chronically online somewhat (this is my guess, I don't have data to back it up)
Also what exactly is the monetization strategy? Ads I guess? More catering towards creating corporate "synergy" with the Reddit community? Selling user data/content? So basically making the place suck considerably worse for users is what it looks like to me.
They really have just given up on being a good search engine at this point huh?