Reddit's S&P 500 Moment: $3 Billion in Index Buying Meets a Stock Still Down 31% This Year
Reddit surged as much as 12.5% Friday after S&P Dow Jones Indices tapped it to join the S&P 500 on August 18, triggering an estimated $3 billion in passive index-fund buying. But the pop can't erase a stock still down roughly 31% this year, caught between blowout revenue growth and fears over Google