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Social Media Giant Reddit Is Set to Join the S&P 500 Soon. Its Stock Is Soaring
Reddit shares entered Friday down more than 30% this year.Credit: Thomas Fuller / SOPA Images / LightRocket via Getty ImagesKey TakeawaysReddit shares surged Friday after news of its entry into the S&P 500.The social media platform will replace AvalonBay Communities in the benchmark index ahead of the opening bell next Tuesday.Reddit stock is getting a much-needed boost on its admission into a major index.Shares of Reddit (RDDT) were up nearly 14% in early trading, after S&P Dow Jones Indices announced late yesterday that the stock would join the S&P 500 ahead of the opening bell next…
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