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The social-media platform becomes a member of the benchmark index, but that isn’t helping its shares.
Index funds may need to buy 16.7 million shares.
When Reddit joined the S&P 500, index funds started buying shares on behalf of employees who never placed a trade. For workers already holding RSUs, ESPP shares, and a company paycheck, that quiet reb...
Shares of online community and discussion platform Reddit (NYSE:RDDT) jumped 13.8% in the morning session after S&P Dow Jones Indices announced the social media company will join the S&P 500, replacin...
Reddit (RDDT) is set to join the S&P 500 before the market opens on Aug. 18, replacing AvalonBay Communities (AVB). J.P. Morgan analysts estimate index funds that track the benchmark will need to buy ...