Reddit shares rose 11% in extended trading on Thursday on the social media company’s inclusion in the S&P 500.
The company will join the index on Aug 18, replacing AvalonBay Communities, according to a release from S&P Dow Jones Indices.
Companies often see their stocks climb when they’re added to major indexes because fund managers who trace the benchmarks have to buy shares to match the changes.
Reddit, which hosts online forums on thousands of topics, becomes only the second pureplay social media company in the S&P 500. Meta, one of the world’s most valuable companies is the other.
Pinterest and Snap both went public long before Reddit, but they’re smaller by market cap. Twitter was in the S&P 500 until it was acquired by Elon Musk in 2022. It’s now called X and is owned by SpaceX
https://www.cnbc.com/2026/08/13/reddit-shares-jump-11percent-on-inclusion-in-sp-500.html