Reddit Shares Rise on S&P 500 Inclusion

Dow Jones08-14 05:33

Reddit shares rose 11% to $175.12 after hours as the company was selected to join the S&P 500.

S&P Dow Jones Indices said Thursday that Reddit will replace AvalonBay Communities on Aug. 18. AvalonBay is merging with Equity Residential.

As of the market close, Reddit's stock was down about 31% this year. Shares were priced at $34 in their March 2024 initial public offering.

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