Reddit will join the S&P 500 on August 18, replacing AvalonBay Communities, driving a post-market rally.
Reddit (RDDT) will enter the S&P 500 before trading opens on August 18, replacing AvalonBay Communities (AVB). The announcement triggered a ~13% rise in Reddit shares during post-market trading on Wednesday.
The inclusion follows standard index rebalancing, with Equity Residential (EQR) remaining a constituent. Reddit’s market capitalization and liquidity met the criteria for the benchmark index, which tracks large-cap U.S. equities.
No immediate market reaction details were provided beyond the post-market price movement.