Aug 14 : Reddit shares jumped more than 11 per cent on Friday after the S&P Dow Jones Indices said the social media platform would join the benchmark S&P 500 index, replacing AvalonBay Communities.Analysts at J.P. Morgan estimate index funds tracking the S&P 500 would need to buy 16.7 million Reddit shares.

Reddit (RDDT) stock jumped more than 12% in extended trading on Thursday after S&P Dow Jones Indices announced that the social media company...

Reddit shares have experienced a remarkable surge following the announcement of their inclusion in the S&P 500 index. With index funds compelled to acquire millions of Reddit…