Reddit's Worst Day Since Its IPO: Down 29.22%

Reddit shares fell 29.22% on Friday 30 Oct 2026, their worst day since the company went public in 2024; the previous record was −20.99% on 31 Jul. Q3 revenue was $895M, up 53% year over year and ahead of estimates, but the Q4 revenue guide of $1.00B–$1.03B was below the roughly $1.05B analysts expected. CEO Steve Huffman said search-referral traffic from Google was "down meaningfully" because of AI, and Reddit warned daily active uniques could fall by a low double-digit percentage in Q4 if that kept up. Reddit said it will test requiring users to log in to see content.