Fidelity estimates Reddit's holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

Fidelity estimates Reddit’s holdings are at $15.4 million, which is down over 7% from the fund’s estimates of $16.6 million from this past April.

  • Richard@lemmy.worldEnglish
    2·
    1 year ago

    Fascinating. Should this be legit, this is solid proof for the protest having a tangible financial impact, right?

    • qprimed@lemmy.mlEnglish
      1·
      1 year ago

      I would agree. injects the poison more deeply than it would have otherwise gone.

      doing something > just complaining

    • dismalnow@kbin.social
      1·
      1 year ago

      Nah. Doesn’t even account for the protest.

      FTA:

      this most recent valuation only accounts for the worth of the company’s holdings up to May 31.

      They are PROPER fucked for Q3.

    • Perry@kbin.social
      1·
      1 year ago

      The IT tech industry isn’t doing great currently. Everything was fine as long as there were a practically infinite amount of money going around, but lately investors have been increasingly demanding signs of profitability over “limitless” expansion and growth.

      That’s why a lot of companies have been doing these seemingly drastic changes lately. It may absolutely result in long term damages, but that is not their main concern at the moment. In some cases this is also somewhat a moment for these companies to show their cards and prove that they actually deserve the evaluation that they been given. I suspect that there will be quite a lot of agitated people in the coming months and years.