surprising fact
Tesla shares surged 60% between the announcement of its S&P 500 inclusion and its addition to the index in December 2020, marking one of the largest inclusion-driven rallies on record, according to Charles Schwab. Other stocks don’t hold onto an index-driven bump, however: Workday, which jumped nearly 10% on news of its inclusion, dropped 19% from its peak after joining the index in December 2024.
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key background
Reddit went public in March 2024 as one of the most closely watched tech listings of the year, marking a milestone for the firm in a turnaround that has since made the social media platform profitable. The company benefited from its best trading day ever in October 2024, as Wall Street applauded Reddit’s growing daily user base and new advertising products from deals with Google and OpenAI. Inclusion in the S&P 500 requires companies to be profitable for the prior four quarters and to meet certain market capitalization requirements.
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further reading
ForbesReddit Stock Surges Nearly 40% Toward Best Day Ever After Revenue Beats EstimatesBy Ty Roush
ForbesReddit Planning IPO Launch In March, Report SaysBy Ty Roush