Why Reddit, Inc. (RDDT) Skyrocketed Today
We recently published a list of . In this article, we are going to take a look at where Reddit, Inc. (NYSE:RDDT) stands against other Wednesday's best-performing stocks.
Reddit grew its share prices by 6.68 percent on Wednesday to end at $118.21 apiece following news that it sued an Artificial Intelligence company for scraping its data without its permission.
In a copy of the lawsuit posted on its website, Reddit, Inc. (NYSE:RDDT) claimed that AI firm Anthropic was training its Claude chatbot on its data since December 2021.
A close up of two hands creating a social media post on Bumble Inc. app.
According to Reddit, Inc. (NYSE:RDDT), filing a lawsuit was its final option to force Anthropic to stop its alleged unlawful practices.
'We will not tolerate profit-seeking entities like Anthropic commercially exploiting Reddit content for billions of dollars without any return for redditors or respect for their privacy,' the company said in a statement.
'A.I. companies should not be allowed to scrape information and content from people without clear limitations on how they can use that data.'
Anthropic has yet to issue a statement on the allegations.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
39 minutes ago
- Yahoo
UBS Upholds Buy Recommendation on Deckers Outdoor (DECK)
On June 5, UBS analysts maintained a Buy rating on Deckers Outdoor Corporation (NYSE:DECK) with a price target of $169. The analysts expect Decker's EPS to top market estimates over the coming year as sales projections increase for its Hoka brand. They also anticipate UGG to keep up its record as a major global casual footwear brand. A customer browsing a retail store, finding the perfect footwear for their casual outfits. The analysts were confident that Deckers Outdoor Corporation (NYSE:DECK) could deliver a low double-digit compound annual sales growth. They forecast that this growth could drive Deckers' forward PE ratio over 20x, compared to the present 16.7x. The $169 price target by UBS reflects a 60% upside for DECK. The stock has plummeted nearly 47% over the last six months, which signals a buying opportunity. After discussions with company management on June 4, the analysts were optimistic about Deckers Outdoor Corporation (NYSE:DECK)'s potential for growth. Despite the market showing caution with reference to the Hoka brand's capacity to sustain robust growth, UBS believes that DECK is perfectly tackling concerns about industry competition, evolving fashion trends, and dependence on Clifton and Bondi franchises. The analysts see double-digit revenue growth for Hoka in the next few years. Deckers Outdoor Corporation (NYSE:DECK) designs and markets premium footwear and apparel worldwide with brands like UGG and HOKA. The company was established in 1973 and is headquartered in Goleta, California. While we acknowledge the potential of DECK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Lemonade Inc (LMND) Q1 2025 Earnings Call Highlights: Strong Revenue Growth Amidst Challenges
Revenue: Increased 27% year-on-year to $151 million in Q1 2025. In Force Premium (IFP): Grew 27% to just above $1 billion. Customer Count: Increased by 21% to 2.5 million. Premium per Customer: Increased 4% to $396. Annual Retention Rate (ADR): Decreased to 84% from 86% in the prior quarter. Gross Earned Premium: Increased 24% to $234 million. Gross Loss Ratio: 78% for Q1, compared to 79% in Q1 2024. Adjusted Gross Profit: Improved 25% year-on-year. Net Loss: $62 million, or a loss of $0.86 per share. Adjusted EBITDA Loss: $47 million in Q1. Total Cash, Cash Equivalents, and Investments: Approximately $996 million. Growth Spend: $38 million in Q1, nearly double the prior year quarter. Technology Development Expense: Increased 5% to $22 million. General and Administrative (G&A) Expense: Increased 20% to $36 million. Warning! GuruFocus has detected 3 Warning Signs with LMND. Release Date: May 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Lemonade Inc (NYSE:LMND) reported a 27% year-on-year growth in Q1 2025, marking the sixth consecutive quarter of accelerating top-line growth. The company achieved a 25% year-on-year improvement in adjusted gross profit, despite the impact of California wildfires. Lemonade Car's quarter-over-quarter in-force premium (IFP) growth outpaced the rest of the business for the first time, signaling strong momentum. The company is on track to achieve EBITDA breakeven by the end of 2026, with expectations of generating positive adjusted free cash flow in 2025. Lemonade Inc (NYSE:LMND) has successfully leveraged AI to maintain or reduce fixed costs while significantly increasing its book size, demonstrating strong operational efficiency. The California wildfires had a notable impact on Q1 results, contributing 16 percentage points to the gross loss ratio. Annual dollar retention (ADR) decreased to 84%, down from 86% in the prior quarter, partly due to efforts to improve profitability in the home insurance book. The gross loss ratio for Q1 was 78%, slightly higher than the previous year's 79%, indicating ongoing challenges in managing claims costs. Operating expenses, excluding loss and loss adjustment expense, increased by 29% year-on-year, driven by growth spend and the impact of the FAIR plan assessment. Net loss for Q1 was $62 million, or $0.86 per share, compared to a net loss of $47 million or $0.67 per share in the prior year, reflecting ongoing financial challenges. Q: Can you elaborate on the timeline for reaching EBITDA profitability and what levers will drive this? A: Daniel Schreiber, CEO, explained that Lemonade aims to achieve adjusted EBITDA breakeven by the end of 2026, with 2027 being the first full year of positive adjusted EBITDA. The company expects gross profit to grow faster than fixed costs, driven by AI efficiencies, bringing them closer to profitability. Q: What impact did the California wildfires have on gross profit, and how are tariffs affecting your full-year guidance? A: Tim Bixby, CFO, noted that the California wildfires had a $44 million gross impact, aligning with prior estimates. The tariff impact is expected to be modest, with single-digit percentage effects on claims. Lemonade is comfortable with its full-year guidance, assuming a modest headwind from tariffs. Q: How is Lemonade's Car business performing, and what are the plans for geographic expansion? A: Daniel Schreiber, CEO, highlighted that Lemonade Car is growing faster than the rest of the business, with a focus on refining the product before expanding geographically. The company is currently available to 40% of the U.S. market and plans to expand further once the product is optimized. Q: How is AI impacting Lemonade's competitive position in the insurance industry? A: Daniel Schreiber, CEO, emphasized that Lemonade's AI capabilities allow for better data utilization and risk assessment compared to traditional insurers. The company's digital infrastructure enables it to connect data points effectively, providing a competitive advantage in pricing and customer acquisition. Q: What percentage of new car sales are cross-sales from existing Lemonade customers? A: Tim Bixby, CFO, stated that about half of new car sales are cross-sales from existing customers, up from a third previously. This trend is expected to continue, leveraging Lemonade's existing customer base for more efficient growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
2 hours ago
- Yahoo
Confused by latest order? How to calculate if your Jackson County assessment is within limits
KANSAS CITY, Mo. — Jackson County assessments are showing up in homeowner's mailboxes. Some people may be surprised at the increase after a May order from the State Tax Commission. Some taxpayers may receive tax refunds in June: When payments could arrive That order capped increases in each assessment period at 15% and set 2022 as a starting point for this year's assessments after 2023 assessments were heavily contested. But determining your maximum 2025 assessment is a little bit more complicated than a single multiplication or division. Legislator Sean Smith and Preston Smith (no relation) have been helping homeowners with appeals since assessments skyrocketed in 2023. This week as they went out again they've been getting questions about what the latest State Tax Commission Order and 15% cap really means. 'People look at it and the first thing they see is, I thought it was only going to be a 15% increase and that was the perception. I've probably answered it online 100 times,' Preston Smith said. 'A lot of people are contacting me thinking they only do the 15 percent once, but you have to do it twice,' Legislator Sean Smith explained. To illustrate how it works with the latest rules using 2022 assessments as the starting point, consider a home with a $100,000 assessed value in 2022. To calculate the maximum assessed value in 2023 multiply $100,000 by 1.15 which is $115,000. But then you have to multiply by 115% again to determine the maximum value a home could be assessed at this year. In this example it would be $132,250. The two 15% increases end up yielding a maximum increase of 32.25% during the two assessment periods. 'I would really urge people to do the math themselves to check it, check and really verify,' Preston Smith said. To do that, however, you have to know your home's 2022 assessed value, which according to those who have received this year's assessments, isn't on this year's notices. You can find that historical information online at the Jackson County Parcel Viewer or Ascend Web. If your increase ends up beyond the allowances under the State order or if you simply don't agree with your value, you still can appeal. Appeals have to be filed by July 14. Download WDAF+ for Roku, Fire TV, Apple TV As for seniors, 40,000 are already enrolled in a new tax credit program freezing tax bills. The county says estimated savings are included on notices, but are subject to change. Both Sean and Preston Smith say they are pressing the Assessor's Office for complete assessment data in 2022, 2023 and 2025 to see how much home values increased, and how many of those increases equated to the maximum allowed if no new construction was done under the State Tax Commission Order without a physical inspection. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
