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Reddit reported $2.20 billion of 2025 revenue and $663.4 million of Q1 2026 revenue. The thesis turns on advertising demand, user engagement, data licensing, cash conversion and platform-governance risk.
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Datavault AI's Perpetuals.com agreement gives its RWA tokenization story a needed liquidity layer, but the investment case still depends on listings, trading volume, fee recognition, and cash collection.
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