As some subreddits continue blackouts to protest Reddit’s plans to charge high prices for its API, Reddit has informed the moderators of those subreddits that it has plans to replace resistant moderation teams to keep spaces “open and accessible to users.”
Edit, there seems to be conflicting reporting on this issue:
While the company does “respect the community’s right to protest” and pledges that it won’t force communities to reopen, Reddit also suggests there’s no need for that.
Source: https://www.theverge.com/2023/6/15/23762501/reddit-ceo-steve-huffman-interview-protests-blackout
To investors it also portrays utter ineptitude and an open hostility to the adminsitration of the site by a large portion of the users, and that Reddit is utterly reliant on said users to generate its value. Lord knows I wouldn’t dare want to take any stock in this company, social media in general makes little profit and Spez has admitted, before a fucking IPO, that Reddit is not profitable. What fool would buy stock in this?
I dare to say any speculation about new Reddit stock will be to short the shit out of it.