Reddit stock plunges 42% in 8 trading days as CEO says AI mode no longer drives traffic
SumitGup · x · 2026-10-31
Reddit's CEO said on the earnings call: "AI mode does not drive traffic. Not for us and not to anybody as far as I know. It used to be a traffic driver. Now it's not." $RDDT fell 42% over 8 trading days, from around $140 to $93.
Just 24 hours earlier, Google erased $480 billion in market value on the same concern: AI is dismantling the traditional search model. For decades the internet ran on search engines directing users to monetized websites — a model AI is now disrupting at an accelerating pace.
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