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Reddit surges 14% on S&P 500 inclusion, set to replace AvalonBay

Reddit shares jumped more than 14% on Friday after the S&P Dow Jones Indices said the social media platform would join the benchmark S&P 500 index, replacing AvalonBay Communities.Analysts at J.P. Morgan estimate index funds tracking the S&P 500 would need to ‌buy 16.7 ⁠million ⁠Reddit shares.That is nearly three times the stock's average daily trading volume of about 5.98 million shares since the company went public in March 2024, according to LSEG data.Reddit was trading at $…

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Economic TimesLean R·2h ago
Reddit surges 14% on S&P 500 inclusion, set to replace AvalonBay
Reddit shares jumped more than 14% on Friday after the S&P Dow Jones Indices said the social media platform would join the benchmark S&P 500 index, replacing AvalonBay Communities.Analysts at J.P. Morgan estimate index funds tracking the S&P 500 would need to ‌buy 16.7 ⁠million ⁠Reddit shares.That is nearly three times the stock's average daily trading volume of about 5.98 million shares since the company went public in March 2024, according to LSEG data.Reddit was trading at $…
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Reddit surges 14% on S&P 500 inclusion, set to replace AvalonBay

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