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← @hhhypergrowth

$RDDT

BULLISH2026-08-01
Price around the call
↑ 2026-08-01
By horizon✗ miss-7.1%
1d
✓ +1.6%
5d
✓ +0.6%
21d
✗ -7.1%
Original post
muji @ hhhypergrowth · 2026-08-01

The market is being very stupid about Reddit's Q2 report, after its weakness in US DAUq combined with comments about 'choppy' search referral traffic. $RDDT This rising era of "Google Zero" (zero click-through) from AI search summaries has the market way too skittish here. Yes, US DAUq (daily uniques) retreated -300K sequentially. It means users that were using the site/app daily didn't engage every single day in the middle of summer. Those users are now likely in US WAUq (weekly uniques), which grew +700K. The market is forgetting that net new DAUq in Q2 is always seasonally weak. A sequential pullback like this has happened 6 times in 6 years, half of which were in a Q2. What I think is vastly more important as a gauge of Reddit's ongoing executional success is their +64% ad reven

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