Verified Investing on $RDDT (Oct 30, 2026)
Reddit is falling from $129 to $98 as AI disrupts its organic-search revenue; the speaker expects support at the 786 fib retracement from the August 2024 low to be pierced again today, as the prior 618 support was, and is watching the $95 low pivot and lower levels.
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Next up, guys, another massive decline here on the chart. Look at Reddit. Now, Reddit has been shifting as far as the revenue basically off of their organic search. AI is really disrupting a lot of the search revenue that has garnered both what we saw with Google and now what we see is going on over here with Reddit.
So, a nice decline here on the chart from 129 down to uh uh $98. now touching and piercing this 786 fib retrace from this pivot low in August of 2024. Man, there's a lot of support here.
But much like the last time we came and hit the previous level of support at the 618, look at all these pierces. Look at how well price action pierced and it did so on a few occasions the first time we came to visit it.
Looks like that's exactly what's going to happen again today. So then I'm drawn over to these low pivots. Pierce of $95 and then the solid one, the most
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