Following up on my last post regarding Reddit's lawsuit against SerpApi, Perplexity AI, and Oxylabs Reddit v. SerpApi, Perplexity, and Oxylabs Case: 1:25-cv-08736 (NY Federal Court) Moves to Discovery Phase

Judge Engelmayer filed new orders on the docket between August 12 and August 17, 2026 (Documents 108 through 112), highlighted by his formal ruling on how to handle the unserved defendant, AWMProxy.

Key Breakdown of New Filings:

• Document 112 (Aug 17, 2026) - Judge Endorses Plan on AWMProxy:
  • In response to Reddit's August 14 status letter (Doc 110) regarding its inability to locate or serve AWMProxy, Judge Engelmayer entered a formal Memo Endorsement.
  • The judge ruled that the court will address any case management issues stemming from AWMProxy's absence directly at the October 1, 2026 Initial Pretrial Conference, where the formal pretrial schedule will be set.
  • The court instructed Reddit and the active defendants (SerpApi, Perplexity, and Oxylabs) to confer on this issue when preparing their joint proposed case management plan and letter ahead of the October conference.
• Document 111 (Aug 17, 2026) - Internet Citation Archival:
  • The court entered official copies of the web pages cited in its July 31 Opinion & Order, specifically archiving Reddit's Public Content Policy into the permanent court record. This is standard federal administrative procedure to preserve cited internet URLs.
• Documents 108 & 109 (Aug 12–13, 2026) - Extension of Time to File Answer:
  • The court officially formalized the scheduling extension allowing the defendants additional time to submit their line-by-line formal answers to Reddit's First Amended Complaint.

Key Upcoming Deadlines & Dates:

• August 21, 2026: Reddit's formal opposition brief to Oxylabs's Motion to Dismiss is due.
• August 28, 2026: Oxylabs's reply brief is due.
• October 1, 2026 (2:00 PM EDT): Initial Pretrial Conference before Judge Engelmayer to finalize the discovery roadmap and address AWMProxy.

Source : https://www.courtlistener.com/docket/71720563/reddit-inc-v-serpapi-llc/?order_by=desc

Continuous acceleration! Just yesterday we were celebrating 42k here >> Our sub r/redditstock just hit 42,000 weekly visitors: From Linear Growth to Pure Exponential Acceleration  , and today our sub r/redditstock has officially crossed 43,000 weekly visitors.

The momentum right now is purely exponential. Look at this growth curve:

• May 24th: 30,000 visitors
• August 4th: 31,000 visitors
• August 8th: 35,000 visitors
• August 9th: 36,000 visitors
• August 16th: 42,000 visitors
• Today August 17th: 43,000 visitors

We are still going with the 1k increase daily

https://preview.redd.it/gnvi2r6yryjh1.jpg?width=1080&format=pjpg&auto=webp&s=5abc2d149742b924d7332ab8fef78e216b3cfca6

Redditors, 

We’re excited to share that Reddit will be added to the S&P 500 on Tuesday, August 18th. This is a big milestone for us as a public company, and it reflects the value of real human connection — something you all create here every day.

Thank you for being part of our journey.

+++

Reddit Will Be Added to the S&P 500

**SAN FRANCISCO—(BUSINESS WIRE)—**Reddit, Inc. (NYSE: RDDT) will join the S&P 500 index, effective prior to market open on Tuesday, August 18th. Its addition to the S&P 500 underscores Reddit’s value, sustained performance as a public company, and its 1-of-1 financial model, highlighted by a rare combination of growth and best-in-class profit and cash flow margins. 

“We’re proud to be added to the S&P 500, recognizing the growth, momentum, and consistency we’ve established as a public company,” said Drew Vollero, Reddit’s Chief Financial Officer. “Reddit’s raw materials are special, and there is so much potential to continue building great products and scaling profitably. Our focus remains on executing against the many opportunities ahead.”

Reddit’s differentiated model is powered by deeply engaged communities and authentic human conversation. As one of the most visited websites in the U.S. and the world, Reddit plays an increasingly important role in the AI ecosystem as more people seek real information and human perspectives. Its platform is an ever-growing corpus of 26+ billion posts and comments that capture human experiences across nearly every topic. 

Reddit’s inclusion in the S&P 500 is an off-cycle index change prompted by the acquisition of a current S&P 500 constituent. With this change, Reddit will be recognized as one of the ~500 largest and most influential public companies in the U.S., and is one of the fastest-growing companies in the S&P 500.

For more information on the S&P 500 Index and index reconstitution, please visit www.spdji.com

Building on the previous post by other member analyzing how Reddit generates its revenue Reddit Financial Flow 2026 Q2 , i said let's take a look under the hood at Reddit’s financial foundation; its Cash Flow and Balance Sheet statements for Q2 2026 (period ending June 30, 2026).

While revenue growth garners headlines, cash conversion and structural solvency demonstrate real business quality.

1. Cash Flow Breakdown which is >> High Cash Conversion & Low CapEx (below screenshot photo FYR)

As we know Reddit’s cash flow structure resembles that of a capital-light software business rather than a heavy infrastructure platform.

• Operating Cash Flow ($261.9M): Driven primarily by $252.8M in Net Income from Continuing Operations and supported by $101.0M in Stock-Based Compensation (SBC). Working capital changes resulted in a temporary -$95.2M cash drain, primarily from growing receivables tied to expanding advertising operations.
• Capital Expenditures (CapEx): Minimal at just -$1.1M (0.43% of Operating Cash Flow). Because Reddit does not maintain its own physical data centers, capital requirements remain exceptionally low.
• Free Cash Flow (FCF): Stands at $260.7M, representing a conversion rate of nearly 99.6% of operating cash flow into free cash flow.
• Financing Activities (-$244.1M): Reddit deployed capital back into its stock, repurchasing -$234.6M in common shares (approx. 1.5 million shares at ~$157/share).
• Net Cash position: Ending cash and equivalents grew by +$112.5M during the quarter to reach $1.5B in liquid cash.

Point 1 Summary: Reddit generates high free cash flow with minimal capital expenditures as a capital-light software business and high operating cash conversion.

2. Balance Sheet Breakdown which is >> Heavy Cash, Almost Zero Debt (below screenshot photo FYR)

• Total Assets ($3.6B):
  • Current Assets ($3.5B / 97.4% of total assets): Dominated by $2.8B in Total Cash, cash equivalents, and marketable securities, along with $650.1M in Receivables.
  • Long-Term Assets ($94.9M / 2.6% of total assets): Extremely lean, consisting of $30.4M in Net Property, Plant & Equipment (PPE) and $52.7M in Intangibles.
• Total Liabilities ($350.9M / 9.6% of Total Assets):
  • Current Liabilities ($337.7M): Accounts payable, accrued expenses ($211.2M), and deferred revenues ($38.5M).
  • Long-Term Debt: Practically zero, with long-term liabilities standing at just $13.2M.
• Total Equity ($3.3B / 90.4% of Balance Sheet):
  • The business is financed almost entirely by equity capital, consisting of $3.5B in Additional Paid-In Capital offset by -$214.3M in accumulated Retained Earnings.

Point 2 Summary: Reddit’s balance sheet reflects significant financial stability with minimal leverage.

My takeaways on this:

1. High Margin Cash Conversion: Converting $262M in operating cash flow on $805M in quarterly revenue represents an operating cash margin of ~33%.
2. Minimal Capital Requirements: CapEx of $1.1M illustrates how scalable the platform is as monetization increases.
3. I expect more Share Repurchases program to come later: Management began using its cash flow to buy back stock ($234.6M repurchased), offsetting equity dilution from Stock-Based Compensation
4. Solid Balance Sheet: With $2.8B in total cash against $350.9M in total liabilities, Reddit maintains significant financial flexibility.

https://preview.redd.it/n2j4sq9kkvih1.png?width=937&format=png&auto=webp&s=f565027be8a9bb569f0db284f73f8ecb4f719bc3

https://preview.redd.it/n5rxzv5nkvih1.png?width=951&format=png&auto=webp&s=2539ee2eb288ddd32ed700de3d3738571681bc61

1. Shares outstanding: 146.1M
2. Short float: 12.39%
3. Float: 137.1M
4. Institutional Owners: 1399 total, 1353 long , 16 short , 30 long/short - change of 63.89% MRQ
5. Institutional Shares: (Long)154,206,200 - 105.55% (ex 13D/G) - change of 26.06MM shares 20.42% MRQ
6. Institutional Value: (Long)$ 21,532,481 USD ($1000)
7. Put/Call Ratios - Forward Looking and Historical: The OI Put/Call Ratio for RDDT / Reddit, Inc. is 0.85. The Put/Call Ratio shows the total number of disclosed open put option positions divided by the number of open call options. Since puts are generally a bearish bet and calls are a bullish bet, put/call ratios greater than 1 indicate a bearish sentiment, and ratios less than one indicate a bullish sentiment.
8. Reported Institutional Options Exposure

Metric	Calls	Puts
Holders	62	56
Reported value	2,242,624.07	1,504,177.19
Largest holder	SUSQUEHANNA INTERNATIONAL GROUP, LLP	SUSQUEHANNA INTERNATIONAL GROUP, LLP

Ownership Source Breakdown

Source	Owners	Shares	Value	% Shares
13F Institutions	1127	123,007,537	17,183,244.50	75.90%
NPORT Funds	654	39,062,613	5,468,463.26	24.10%

----------- Edit 1:
Summary of what This Tells Us:

1. The heavy Institutional Conviction vs. Short-Term Volatility as Institutions actively bought the dip (+20.42% quarterly share growth), Long holdings jumped by 26.06M shares (+20.42% MRQ), indicating aggressive net buying, absorbing retail panic. Wall Street views RDDT as a core long-term hold driven by high gross margins and free cash flow conversion.
2. The earnings Disconnect as the earnings reaction chart highlights a disconnect between core business fundamentals (strong revenue/margin growth) and sentiment-driven price shocks (such as Google search referral traffic fluctuations affecting user additions).
3. The bullish Options Skew with an OI Put/Call ratio of 0.85 and institutional call value significantly exceeding put value, institutional traders are positioned for upside recovery rather than downside hedging.

Cash flow : operations, investing, financing

Gross margins

Income statement: revenue, operating income, net income

Short sale volume

Institutions and funds: buying

Funds shorting

Price reaction to earnings reports

Sources: https://fintel.io/sm/us/rddt & https://finviz.com/stock?t=RDDT&p=d&ty=ea

Following up on my last post regarding Reddit's lawsuit against SerpApi, Perplexity AI, and Oxylabs MAJOR WIN FOR REDDIT: SDNY Judge Denies Motions to Dismiss in SerpApi & Perplexity AI Lawsuit

A new docket entry (Document Entry 105), filed on August 6, 2026, officially advances the lawsuit into the formal discovery phase following Judge Engelmayer's July 31 decision. The docket indicates that the court has issued an Order for Initial Pretrial Conference and set key litigation deadlines.

This filing represents the direct administrative follow-up to the judge's statement in Document 104 that an order would issue shortly regarding next steps in this litigation.  

The Initial Pretrial Conference (IPTC)

1. This order summons the legal teams for Reddit, SerpApi, and Perplexity to appear before the judge to establish a binding litigation schedule.  
2. The parties arenow required to meet and draft a joint Case Management Plan.  
3. This plan will dictate strict deadlines for exchanging evidence, producing documents, and conducting witness depositions.

 

Strategic Impact for Reddit

1. Because the court sustained Reddit's core DMCA anti-circumvention and civil conspiracy claims, the defendants can no longer shield their internal operations from scrutiny.  
2. Reddit now gains the legal authority to subpoena internal communications, backend source code, and server logs from Perplexity and SerpApi.  
3. This discovery process will allow Reddit to formally uncover the exact technical parameters Perplexity and SerpApi used to bypass protection systems to extract Reddit user content.

 

Next Immediate Steps

1. The parties will submit their proposed discovery timeline to the court.  
2. The judge will hold the conference to lock in the trial calendar.  
3. The court is also expected to issue an update regarding Oxylabs, whose separate motion to dismiss was stayed pending the July 31 ruling onthe primary defendants.

 

Source : Reddit, Inc. v. SerpApi LLC (1:25-cv-08736)

Following up on my last post from July 16th [Legal Update] Reddit v. SerpApi & Oxylabs: Key Pre-Hearing Moves & Strategic Filing Ahead of Today's Hearing

Reddit v. SerpApi, Perplexity, and Oxylabs Case: 1:25-cv-08736 (NY Federal Court)

Huge news just hit the docket today (July 31, 2026) in (Entry 104) in Reddit’s federal lawsuit against SerpApi and Perplexity AI (Reddit, Inc. v. SerpApi LLC et al., SDNY).

Judge Paul A. Engelmayer officially issued his Opinion & Order on the Defendants' Motions to Dismiss, and it is a predominantly massive win for Reddit.

What Reddit WON (Claims Sustained):

• DMCA Anti-Circumvention : SUSTAINED against BOTH Perplexity AI and SerpApi. The court validated Reddit's core claim that bypassing technical barriers (like SearchGuard and CAPTCHAs) to scrape Reddit data violates federal copyright law.
• DMCA Trafficking : SUSTAINED against SerpApi. The claim stands regarding SerpApi creating and distribution tools designed to bypass access controls.
• Civil Conspiracy: SUSTAINED against BOTH defendants. Reddit can pursue both parties under New York law for conspiring to extract and "wash" data.

What Was Dismissed (Minor/Standard Cleanup):

• DMCA : against SerpApi (relates to rights protection vs. access control).
• State-law Unjust Enrichment & Unfair Competition against both (standard dismissal as federal DMCA claims already cover the core dispute).

Source : Reddit, Inc. v. SerpApi LLC (1:25-cv-08736)

https://preview.redd.it/nb1pomzi7lgh1.png?width=1548&format=png&auto=webp&s=af80b02647e1394bf8efd14cc43c34289e4b5610

Well i have been tracking our stock price action along with Media stocks specially META and as you all know we usually follow META ,

For the first time this is not happening and clearly going opposite direction

META tanked since yesterday and today triggered SEC201 for shorting , however RDDT is not only holding up but also up from yesterday price

MSFT also is up along with TSM , this big names gave the market today a good green candle

at last it is just a personal take i am sharing with you , could be totally non sense , but here i am still sharing it , and still believing in the bullish signal behind it .

https://preview.redd.it/k0thaya8hdgh1.png?width=399&format=png&auto=webp&s=09bbf5fad39b585059e2f24cbcdc1ca5471b9865

Following up on my last post from July 16th Reddit legal cases updates as of 16th July 2026 (Anthropic+ SerpAI & Oxylabs), I will focus here on:

Reddit v. SerpApi, Perplexity, and Oxylabs Case: 1:25-cv-08736 (NY Federal Court)

New entries from July 21 and July 22 (Entries 90 through 99) show critical strategic moves right before today's 10:00 AM hearing.

A. Reddit preemptively filed the California Google ruling (Entry 90)

Entry 90 filed on July 21: Notice of Supplemental Authority... Exhibit A - Google LLC v. SerpApi LLC Decision, so Instead of waiting for SerpApi to use the July 20 California ruling as a surprise weapon in court, Reddit filed it themselves first, Reddit is telling Judge Engelmayer directly: "We are aware of the California decision, and here is why our case is fundamentally different." This allows Reddit’s legal team to control the narrative early and explain why their trap post evidence and direct Terms of Service contract claims survive even if Google’s claims stalled in California.

B. Oxylabs filed its Motion to Dismiss and asked to speak today (Entries 96 & 97)

Right on deadline on July 21, Oxylabs submitted Entry 96 (Motion to Dismiss) and Entry 97 (Letter Motion for Oral Argument) and asked Judge Engelmayer for permission to participate actively in today's (July 23) oral arguments alongside SerpApi and Perplexity, and On July 22, Judge Engelmayer signed Entry 99 (Memo Endorsement), officially granting Oxylabs' request to join today's hearing.

C. Oxylabs brought in additional counsel (Entries 91–95, 98)

Oxylabs officially filed Notices of Appearance for its legal team, including James Alex Reese (Entry 91), Victoria Constance Huang (Entry 92), Raven Quesenberry (Entry 93), and Jeffrey M. Fisher (Entry 94), all of which were granted by the court (Entry 98).

Summary for Today's Hearing (July23)

The courtroom in New York today will beactive. All three co-defendants (SerpApi, Perplexity, and Oxylabs) are aligned with full legal teams.

The primary battleground in Courtroom 1305 today will center on:

1. Reddit's Notice of Supplemental Authority (Entry 90): How Judge Engelmayer evaluates the California Google v. SerpApi ruling relative to Reddit's specific claims.
2. The Data Laundering / Honeypot Arguments: Whether indirect scraping through Google violates Reddit's contract terms under Second Circuit precedent.

Source: CourtListener Docket

Since my last post on May 2nd Reddit legal cases updates as of 2nd May 2026 (Anthropic+ SerpAI & Oxylabs), the docket has seen some aggressive maneuvering and critical date shifts. For those of us tracking catalysts and short-term volatility, here is exactly what is happening behind the scenes.

1. Reddit v. SerpApi, Perplexity, and Oxylabs Case: 1:25-cv-08736 (NY Federal Court)

• The highly anticipated oral arguments on the Motions to Dismiss did not happen on June 30th. Due to an unavoidable conflict with an upcoming trial, Judge Paul A. Engelmayer officially adjourned the hearing. The new date is Thursday, July 23, 2026. This is now the next massive catalyst to watch.
• Rather than resting on its original filing, Reddit stepped up the pressure by filing a First Amended Complaint. Co-defendant Oxylabs attempted to stall their response until after the July 23rd hearing to see how the judge leaned. On July 2nd, the judge firmly denied this prolonged delay, noting it would give Oxylabs an "unfair tactical advantage." He ordered them to submit their response by July 21, 2026.

Source: Case: 1:25-cv-08736 -Reddit vs SerpApi and Oxylabs:

2. Reddit v. Anthropic Case: CGC-25-625892 (San Francisco State Court).

• Conference Pushed Back as The Case Management Conference originally scheduled for July 22nd has officially been continued to September 30, 2026. This delay is tied directly to Anthropic's pending motion to dismiss (demurrer) scheduled for August 12th. The court wants to settle the legal viability of Reddit's contract claims before mapping out trial dates and discovery deadlines.
• As of July 14th, the court formally granted Pro Hac Vice admission to elite business litigators Corey Worcester and Stefan Berthelsen from Quinn Emanuel. Reddit is locking in its top tier New York legal team to run the California state case. This is a clear signal that Reddit is bringing their heavy hitters to San Francisco and treating this litigation with maximum priority.

Source: Case: CGC25625892 - REDDIT, INC. VS. ANTHROPIC

With this new data, the updated roadmap:

• July 21, 2026 (NY): Oxylabs must respond to Reddit's Amended Complaint in the SerpApi case.
• July 23, 2026 (NY): Massive oral arguments on the Motion to Dismiss (SerpApi/Perplexity).
• August 12, 2026 (SF): Hearing on Anthropic's demurrer (the pivotal state court dismissal test).
• September 30, 2026 (SF): Rescheduled Case Management Conference to map out the trial.

It proves the Anthropic battle is playing a longer, more calculated game than the New York case.

I have been tracking the macro weekly chart for RDDT leading into the July 30 earnings (screenshot below), and the setup is looking like an absolute powder keg. Between the structural base, a historical copycat pattern, and heavily rising short interest, the data is pointing to a massive potential upside move.

Here is the breakdown of the data:

1.The Technical Setup & Volume Floor

• Weekly MACD: We just got a clean bullish crossover directly under the zero line on the macro weekly chart. Momentum is shifting entirely to the buyers.
• Bollinger Bands: The price ($195.34) is currently hugging the upper weekly band ($196.10). When a stock rides the upper band (upper blue line of the cloud) into a major catalyst, it indicates high velocity and aggressive institutional front-running. If you follow the chart this exactly happened 2 times before; Last July and October 2024, see what happened right after it!
• Volume Profile: There is a massive accumulation shelf sitting right between $150 and $170. That structural node creates a concrete floor. More importantly, the volume profile above $195 is incredibly thin, meaning there is almost zero overhead resistance to slow down a rally once it clears $200.

2.The Historical Copycat, If we zoom out to exactly one year ago (July 2025), RDDT formed this exact same pre-earnings acceleration pattern right before their blowout Q2 report. It crept up along the upper Bollinger Band, earnings dropped, and it triggered a massive expansion wave that lasted straight through to the end of the year. The current weekly structure is an almost identical mirror image.

3.The Squeeze Fuel, Normally, rising short interest is a bearish signal. However, given the bullish technical floor and the upcoming catalyst, these shorts have trapped themselves and provided the rocket fuel we need.

• Short float has climbed steadily from 9.71% in mid-May up to 12.40% (17 million shares) by the end of June. Source https://finviz.com/stock?t=RDDT&p=d&ty=si
• Days to Cover is sitting at 3.53. * Options Implied Volatility (IV) is surging around 89%. The market is explicitly pricing in an explosive move.

The Bottom Line

We have a massive structural floor, a historical precedent for a post-earnings macro run, and 17 million shorted shares sitting in a vulnerable position. If RDDT posts a strong earnings beat on July 30 (most likely scenario) and cleanly breaks the psychological $200 resistance level (already done last week and will continue till earnings ), those shorts will face Forced buying coverage of 3.5 days' worth of volume into a zone with thin historical resistance will trigger a violent squeeze.

Accordingly i am expecting August range 250ish and September ATH.

My only concern is Macro which started again in weekend affecting all market not only Reddit

*Disclaimer: This post is not intended as financial or investment advice. All of the above is pure speculation based on technical chart analysis and historical performance.

Weekly chart

Short interest chart