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Reddit Joins S&P 500, Shares Jump 12%

8/16/2026

33 8 Full Breakdown

Summary

Story summary

Reddit will be added to the S&P 500 on Tuesday, Aug. 18, 2026, replacing AvalonBay Communities (AVB).
The announcement sent Reddit’s shares up more than 12% to around $19.97.
Quarterly revenue grew 61% YoY to $805 million, with advertising providing $762 million (about 95% of total).
Reddit sells real-time and historic data to AI firms such as Google Gemini and OpenAI’s ChatGPT for roughly $35-$40 million each quarter.

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Story summary

Reddit will be added to the S&P 500 on Tuesday, Aug. 18, 2026, replacing AvalonBay Communities (AVB).
The announcement sent Reddit’s shares up more than 12% to around $19.97.
Quarterly revenue grew 61% YoY to $805 million, with advertising providing $762 million (about 95% of total).
Reddit sells real-time and historic data to AI firms such as Google Gemini and OpenAI’s ChatGPT for roughly $35-$40 million each quarter.