π Reddit $RDDT surges +15% after S&P 500 inclusion announcement
Reddit (RDDT) is ripping +15% this morning after S&P Dow Jones Indices confirmed it will join the S&P 500 effective August 18, replacing AvalonBay Communities (AVB) in the Communication Services sector. That makes RDDT only the second pure-play social media stock in the index alongside Meta, turning index funds into forced buyers. Shares had already jumped 13% in after-hours Thursday on the news. Not financial advice. Will RDDT hold these gains once the index-rebalancing buying fades?
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