Say what you want about social media company stocks. Especially Snap and Pins aren’t popular here and for obvious reasons a lot of people here favor Rddt over the other two.
Some say these three stocks cannot be pooled together and that they don’t trade as peers. Well, they’re down by roughly the same amount since January 2, so… they’re all down roughly 40 % since January 2.
The downfall began when SaaS apocalypse happened. Tech and software stocks dipped, then kept bleeding and eventually a crash had happened- at least to some stocks. RDDT, snap and pins were some of these.
Then Iran happened and the quick relief rally that might have happened didn’t happen. Now it seems new resistance is taking shape and even if the situation in Iran cools and the strait opens safely and securely, I’m not sure these stocks will recover very much.
What’s it going to take? Nvidia CEO needs to say AI capex is going to chill? Meta saying ad revenue is going to be excellent all of a sudden?
PINS, RDDT, SNAP all got absolutely hammered since January 2. First came SaaS apocalypse. Then came the Strait of Hormuz situation. How will these stocks recover?
byu/lies_are_comforting inStockMarket
Posted by lies_are_comforting
2 Comments
Reddit was overvalued AF. It is still overvalued imo.. 29 billion market cap with a P/e of over 50, are you serious??
Look into how AI is really changing the software industry, you’ll know whether they will recover. If their business crash, it won’t be because of AI, though their CEO may blame it on AI instead of management 🙂
CEOs have to sell the AI hype, to prop up their share prices or to get funding. Whether AI is adding to the bottom line, that remains to be seen.