Reddit (RDDT) is added to the S&P 500 on Tuesday, August 18.
It replaces AvalonBay in a merger.
The stock rose more than 10% in after-hours trading.
Index funds are required to buy.
Reddit comes with revenue growth of +60% over several quarters and solid profitability.
It becomes the second “pure-play” social network in the index, alongside Meta.
But recognition comes with risks:
possible loss of traffic from Google’s AI and pressure to monetize.
#reddit #squarecreator
It replaces AvalonBay in a merger.
The stock rose more than 10% in after-hours trading.
Index funds are required to buy.
Reddit comes with revenue growth of +60% over several quarters and solid profitability.
It becomes the second “pure-play” social network in the index, alongside Meta.
But recognition comes with risks:
possible loss of traffic from Google’s AI and pressure to monetize.
#reddit #squarecreator