Reddit Stock Drops as Wells Fargo Warns Google's AI Search Tools Could Hurt Traffic
1. Wells Fargo downgraded Reddit's stock, lowering the price target significantly. 2. Google's AI search tools disrupt traffic, impacting Reddit's advertising revenue. 3. Reddit CEO acknowledges challenges ahead due to changing search ecosystem. 4. Despite the downgrade, most analysts still maintain a 'buy' rating for RDDT. 5. Potential catalysts for Reddit's growth include AI-powered features.