Reddit just landed in the big leagues - thestreet.com
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- Reddit (RDDT) is being added to the S&P 500, replacing AvalonBay Communities in the benchmark
- Reddit shares surged 15% on the inclusion news, per Forbes' headline figure
- The S&P 500 addition takes effect next week, according to multiple outlets
- Reddit stock popped before the formal inclusion announcement, a timing detail emphasized in WSJ's framing
- The consensus across coverage frames this as Reddit's arrival in major-index territory, with TheStreet calling it 'the big leagues'
Why it matters: Reddit's S&P 500 inclusion forces index funds and passive investors to buy RDDT, with shares already up 15% on the news. AvalonBay's removal means the apartment REIT loses its benchmark spot, likely triggering mechanical selling from funds tracking the index.
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