---
symbol: "RDDT"
name: "Reddit"
date: 2026-11-12
change_pct: -5.903125295061841
direction: "down"
event_type: "price_move_recap"
url: "https://perplo.app/why/RDDT/2026-11-12"
updated_at: 2026-11-12T20:06:53.947Z
---

# Why Reddit (RDDT) fell 5.90% on November 12, 2026

Reddit (RDDT) fell 5.90% on November 12, 2026 — Traffic down 13% as AI Overviews cut clicks.

## What happened

Reddit fell about 5% after Google's AI Overviews cut its referral traffic by 13%, with Reddit telling investors that these summaries are "not traffic drivers." The shares ended the session down 5.2%, and the traffic…

## Why it moved

Reddit's ad inventory and user growth depend on search referrals, so a 13% traffic drop reads as fewer impressions and weaker monetization.

## Why it matters

Reddit sits in the Consumer & Internet theme, which had rerated on user growth until weak outlooks at Reddit and DraftKings stalled the group.

## What would break the thesis

The thesis weakens if referral traffic stabilizes or if Reddit shows that direct visits and logged-in users are offsetting the AI Overview losses. Stronger ad demand would also undercut the monetization concern.

## Sources

- [Reddit Sinks 6% as Traffic Falls 13% on Google’s AI Overviews: “Not Traffic Drivers”](https://finnhub.io/api/news?id=9d47b1ae171b5a8410f8ae80809a252406b4e155f7787b0764d8ce550aa3917e) — Yahoo

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