Reddit Set to Join the S&P 500 Next Week
+12.63% to $178.09 from $158.12
What moved RDDT
- S&P Dow Jones Indices announced Reddit will be added to the S&P 500 before the market open on August 18, replacing AvalonBay Communities.
- The move makes Reddit only the second standalone social media company in the index, alongside Meta Platforms.
- Shares extended a rally that began after the inclusion news first circulated in after-hours trading a day earlier.
- Coverage noted the index-fund buying tied to inclusion comes alongside mixed signals on the stock’s valuation.
Sources: CNBC · Morningstar · GuruFocus