Reddit shares jump 11% in extended trading on S&P 500 inclusion

Published Aug 13, 09:32 PM UTC

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Reddit shares surged 11% in extended trading on Thursday after S&P Dow Jones Indices announced the social media company will be added to the S&P 500 index. Reddit will join the benchmark index on August 18, replacing AvalonBay Communities Inc. The stock price increase is typical for companies added to major indexes, as fund managers tracking the benchmarks must purchase shares to align with the index changes. The announcement was accompanied by a video interview with Reddit CEO Steve Huffman discussing Q2 results and U.S. user growth.

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Original headline: Reddit shares jump 11% on inclusion in S&P 500

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Reddit Added to S&P 500, Shares Surge Over 10%

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Reddit shares jump 11% in extended trading on S&P 500 inclusion

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