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.
reports that the Blue Chip Growth Fund at Fidelity, a major financial services provider, has reduced its estimates of Reddit’s holdings following an already poor estimate earlier this spring. Fidelity now estimates that Reddit’s holdings could be around $15.4 million as of May 31, which is down over 7% from the fund’s estimates of $16.6 million from this past April. This new figure is is also a reported 45.
TechCrunch notes that the majority of Reddit’s turmoil in holdings occurred last year and this most recent valuation only accounts for the worth of the company’s holdings up to May 31. However, the company is currently dealing with the fallout of a massive protest that spanned the platform earlier this month—tendrils of which still remain.In April, Reddit announced that it would be charging companies for access to its API.
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