Yes, but only up to a point. DAU and MAU is a reflection of advertising audience size, and thus potential revenue. If company A has. 1M DAU, and The grows it in

Yes, but only up to a point. DAU and MAU is a reflection of advertising audience size, and thus potential revenue. If company A has. 1M DAU, and The grows it in 2M in a year, that’s good growth, revenue should double even with everything staying the same. It’s stock price should at least double, probably more than that to price in future growth. Compare that to Company B that has 500k DAU and flat. Not so good. Now what happens if it turns out that Company A’s DAUs we’re actually bots? Suddenly, the audience isn’t worth anything, because bots aren’t an advertiser friendly audience. So now the stock should at least drop in accordance to the real-DAU, and maybe even less to price in lack of confidence in the future.