Stock Market Update
14-Aug-26 12:00 ET
Reddit surges on S&P 500 inclusion news
Dow -133.47
at 53706.52,
Nasdaq -98.76
at 26725.29,
S&P -12.48
at 7786.51
[BRIEFING.COM] The major averages remain modestly lower at midday.
Reddit (RDDT 180.22, +22.10, +13.98%) is trading sharply higher today following news that it will join the S&P 500 next week, an important milestone that should increase the stock's visibility and institutional ownership. Reddit, which operates a social platform built around highly engaged communities and authentic user-generated conversations, has been posting impressive financial growth. In late July, Reddit reported Q2 revenue of $805 mln, up 61% yr/yr, marking its eighth consecutive quarter of revenue growth above 60%. The company is also showing significant operating leverage, with operating cash flow, adjusted EBITDA, net income, and GAAP EPS all more than doubling year-over-year in Q2.
