StocksMediumUpdated×3•Originally published 29 October 2026•Updated 30 October 2026•
1 min read
Reddit Shares Sink 25% to $97.51 as Google AI Search Erodes User Traffic
Key Facts
1Reddit shares fell significantly after the company issued weak financial guidance for the upcoming period.
2The company's earnings results exceeded analyst estimates prior to the release of the disappointing guidance.
Reddit shares fell 24.8% to trade at $97.51 on October 30, 2026, marking the stock as one of the worst performers on Wall Street. The decline followed a company warning that search engine referrals dropped by an average of 1 million users per week in October 2026 due to Google's new AI-driven search features.
Reddit was trading at $97.51 on October 30, 2026, after the company issued fourth-quarter sales guidance between $1 billion and $1.03 billion, missing Wall Street estimates of $1.05 billion. In related social media sector moves, Pinterest shares dropped 8% after its own fourth-quarter revenue forecast fell short of expectations.