Reddit Joins the S&P 500 Tuesday. Here’s What History Says Could Come Next — and What Investors Should Know.
Key Points S&P Dow Jones Indices said Reddit will replace AvalonBay Communities in the S&P 500 before the open on Tuesday, Aug. 18. Harvard Business School research found the average abnormal return from an S&P 500 addition fell from 7.4% in the 1990s to less than 1% in the 2010s. Reddit has grown revenue more…