U.S. Stock Movement | ChatGPT citation volume plummets, raising market concerns; Reddit falls over 9%
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Reddit's stock price fell over 9%, continuing a 5% decline from the previous trading day, closing at $209.16. Investors are concerned about its position in the AI era, as the citation rate of Reddit content in ChatGPT sharply dropped to 2% in mid-September. Although Reddit remains the most cited social platform in ChatGPT, its citation rate has decreased from 14% in early September to 4.3%. To address the challenges posed by AI, Reddit has reached data licensing agreements with OpenAI and Google, and has launched its own AI search and advertising tools
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