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Reddit (RDDT) stock drops 9% amid reports of potential Google AI content deal termination.
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In the past 24 hours, Reddit's stock (RDDT) declined by 9% following reports that the company is considering ending its $60 million annual agreement with Google, which grants Google access to Reddit's content for AI training. This development has raised concerns among investors about potential revenue impacts.
Punti chiave
- Reddit's stock falls 9% after reports of potential Google AI content deal termination.
- Reddit's Q1 ad revenue rose 74% year-over-year, contributing to 94% of total revenue.
- Analysts have an average price target of $226.29 for RDDT, implying approximately 34% upside.
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