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Benzinga

Business

Henry Khederian

Reddit Stock Is Sliding Wednesday: What's Driving The Action?

Reddit ChatGPT OpenAI

Guildford,,Uk,-,June,12,,2023:,Reddit,App,Logo,On

Reddit Inc (NYSE:RDDT) shares are trading lower Wednesday morning. The stock is under pressure amid social media chatter ChatGPT owner OpenAI is reportedly looking to reduce Reddit citations. Here’s what investors need to know.

What To Know: This development could slash user traffic directed to Reddit and devalue its data licensing deals, which are crucial for training AI models and represent a significant growth area.

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