Reddit Crashes As Weak User Growth Spooks Wall Street

Summary

Reddit Crashes As Weak User Growth Spooks Wall Street Reddit shares crashed in premarket trading in New York after quarterly user numbers missed the Bloomberg consensus estimates and its revenue outlook disappointed. This sparked concerns about slowing search traffic and new plans to restrict platform access to users with accounts, as the CEO warned, "Google is crawling us as hard as ever." Daily active users rose 12% to 130.3 million in the third quarter, below estimates of 133.53 million. US users fell 1.7% to 50.7 million, missing expectations of 53.5 million, while international users…

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