Lates News

A proposed class action lawsuit filed on June 18th claims that Reddit misled investors in regards to the impact of changes in Google search algorithms and artificial intelligence (AI) summaries. According to the lawsuit filed by investors in the Northern District of California, on May 21st analysts downgraded Reddit's stock rating due to concerns about a permanent traffic interruption, causing Reddit's stock price to drop by 9.3%. By the stock market closing on June 18th, Reddit had accumulated a 30.72% increase in the last month.