Reddit’s 20% Stock Slide Tied to Google AI Overviews Slashing Referral Traffic
Reddit crushed earnings—$805 M revenue, $1.25 EPS—but its shares dived over 20% after CEO Steve Huffman warned that Google’s AI Overviews halved referral clicks. The AI‑driven search summaries are cutting traffic to Reddit’s communities, unsettling investors and sparking talk of renegotiating the $60 M partnership with Google.