GoKawiilReddit shares fall 29% after weak sales forecast and Google traffic decline
Reddit's stock dropped 29.22% on Friday, its steepest single-day fall since going public in 2024, after the company reported weaker-than-expected quarterly sales growth and issued a soft sales forecast. CEO Steve Huffman said search-referral traffic from Google declined 'meaningfully' this quarter due to AI Overviews, and the company is moving toward requiring logins for previously open access.