Fidelity estimates Reddit's holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

Fidelity estimates Reddit’s holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

iWidji
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71Y

For those who didn’t read the article, important note.

The valuation decrease was as of May 31.

It wasn’t even after the Reddit apocalypse! What is going to happen next?

@washashore@lemmy.world
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iWidji
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31Y

I think that’s a fair take that’s likely to happen. It really depends now on what Reddit does to try to normalize things or blow things up more. I think if they try to just rebuild relationships with their new group of users, they may survive.

But they also seem equally as likely to find a new way to screw themselves over…

@washashore@lemmy.world
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