After getting passed over multiple times this year, Reddit Inc. (NYSE:RDDT) is finally punching its ticket into the S&P 500.
RDDT stock is climbing. See the chart and price action here.
On Thursday, S&P Dow Jones Indices announced the social media platform will replace AvalonBay Communities Inc. (NYSE:AVB) in the benchmark index effective before the opening bell on Tuesday, August 18.
The seat is opening up because AvalonBay is being absorbed by fellow S&P 500 constituent Equity Residential (NYSE:EQR) in a merger of equals.
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