Reddit shares jump after S&P Dow Jones Indices announces the company will be added to the S&P 500 later this month. The stock rallies more than 10% in after-hours trading following the announcement, with several outlets noting the move arrives after a period of speculation.
MarketWatch and other reports describe months of uncertainty around whether Reddit would be included, following prior “snubs” that did not result in index inclusion. Bloomberg adds that the change is scheduled as an off-cycle addition, specifying that Reddit will join the index next week. CNBC similarly reports the shares increase on the news of inclusion. While the outlets differ slightly on framing—some emphasize the timing and off-cycle nature, others focus on the broader speculation and past disappointments—they broadly agree on the core event and the immediate market reaction.
