Reddit Inc. is weighing feedback from early meetings with potential investors in its initial public offering that it should consider a valuation of at least $5 billion, according to people familiar with the matter, even as it is estimated below that figure in the volatile market for shares of private companies.
Google is over-valuing reddit right now, and I sincerely doubt it will continue because their entire search platform is worse than ever.
So this stock likely will not do well in the long run. It may be as simple as virtually all the search traffic being cut the minute they release generative search as a default option.