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via finance.yahoo.comMarkets

Citizens downgrades Reddit as Google's AI search shift weighs on traffic

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Citizens downgraded Reddit to Market Perform from Market Outperform following the social media platform's latest quarterly results, citing growing uncertainty around user growth as Google sends less traffic to the platform. Still guessing which stocks will beat…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe downgrade and the roughly 25% share drop reflect risk to Reddit's search referral traffic.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Citizens downgraded Reddit to Market Perform from Market Outperform.
  2. 02Reddit beat quarterly estimates but issued a weaker revenue outlook.
  3. 03US daily active uniques fell 5% sequentially in the third quarter.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Reddit, Inc.RDDTStock91.69 USD-4.80%today -29.25%Negative Alphabet Inc.GOOGLStock280.58 USD+0.34%today -1.14%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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