00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Reddit shares extended their steep sell-off after the company reported that artificial
00:07intelligence is disrupting its business, according to Benzinga.
00:11Shares ended the week at $91.73, down more than 67% from their all-time high,
00:18as the company's market capitalization shrank to $17.6 billion,
00:23and analysts began cutting their price targets.
00:27CEO Steve Huffman said AI search has driven a sharp decline in search referral traffic,
00:33with October referrals falling by more than $1 million per week on average.
00:37Analysts at Guggenheim, Needham, Wells Fargo, Truist, and Oppenheimer cut their Reddit price
00:43targets, bringing the average target to $197 from $223 a year earlier.
00:50Reddit's third-quarter revenue jumped 53% to $895 million,
00:56while average revenue per user rose to $6.87.
01:00Reddit forecast revenue between $1 billion and $1.03 billion,
01:06below expectations of $1.05 billion.
01:10Technical indicators suggest the stock could face further declines toward $80.
01:15For all things money, visit Benzinga.com.
01:18いつもらえたら編 Como市民のコーヒneことがで待変わり、50
