Reddit, a US version of a forum, has a pessimistic outlook in the AI era because users now get answers directly from AI and Google prioritizes AI summaries, reducing traffic demand. The host will not buy back the stock and may even remove it from his watchlist.

Reddit's Q3 results were strong and beat expectations, but Q4 revenue guidance missed, and AI-generated answers from search engines have continued to reduce its traditional search referral traffic, slowing US user growth; coupled with plans to require login, the market worries user growth will be further pressured. After earnings, several institutions downgraded the stock, which fell below $100, retracing about 68% from its 52-week high. With many other better stocks already heavily discounted, there is no need to buy this one.

The host discloses a small Reddit position but moves it to the sidelines over stalled user growth and Google traffic declines; he would add only on catalysts like an AI data licensing deal, and thinks buybacks should accelerate at ~$100.

Despite the selloff, the host sees Reddit's login-wall strategy favorably: a smaller logged-in audience can be worth more than free Google traffic that can be switched off.