Reddit suffers worst day since IPO, stock plunges 29% as CEO blames Google AI Mode for traffic loss
oran_ge · x · 2026-11-01
Reddit just had its worst day since going public, with the stock down 29%. CEO Steve Huffman attributed it to Google AI Mode answering queries directly: "AI is not bringing traffic — not to us, not to anyone." The 25-year deal of "sites feed Google, Google sends users back" is breaking down: search-driven visits fell by over 1 million per week on average in October, and daily US visitors dropped 2% year over year — Reddit's first decline since its 2024 IPO. As the poster notes, if even the most human community on the internet is hit this hard, everyone else should worry more.
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