The Software Selloff Got It Wrong on Reddit and AppLovin

The Software Selloff Got It Wrong on Reddit and App

Feb 19, 2026

∙ Paid

Software stocks just had their worst month since 2008. Salesforce, ServiceNow, Adobeall down 22-30% despite solid earnings. The panic is about AI agents replacing workers and killing seat-based revenue models.

The problem? Reddit and AppLovin got lumped into this selloff despite running completely different businesses.

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