Reddit surges 14% on S&P 500 inclusion, set to replace AvalonBay

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 shares, this influx is expected to significantly surpass the average daily trading volume of the stock. The inclusion will take effect before the markets open on August 18, with AvalonBay Communities being replaced after its merger agreement.

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