Reddit Stock Surges Nearly 9% After Announcing New Platform Update To Block Automated Content Scraping Following Reports Of Leading AI Startups Ignoring Rules
Portfolio Pulse from Benzinga Neuro
Reddit Inc. (NYSE:RDDT) saw its stock surge nearly 9% after announcing a new policy to block automated content scraping. The update aims to protect Reddit's content from unauthorized use by AI companies. The stock closed at $61.38, up 8.68%, but fell slightly in after-hours trading.
June 26, 2024 | 6:42 am
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Reddit Inc. (NYSE:RDDT) saw its stock surge nearly 9% after announcing a new policy to block automated content scraping. This move is seen as a proactive step to protect its content from unauthorized use by AI companies.
The announcement of a new policy to block automated content scraping is a significant move for Reddit, as it addresses growing concerns about unauthorized use of its content by AI companies. This proactive step is likely to be viewed positively by investors, leading to a short-term increase in stock price.
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