Reddit is joining the S&P 500. Here’s why that matters, and why the stock price is surging on the news

Shares in Reddit, Inc. (NYSE: RDDT) are surging in premarket trading this morning after S&P Dow Jones Indices announced that the social media platform will join its prestigious S&P 500 Index. Here’s what you need to know about Reddit’s ascension to the S&P, and why it’s giving RDDT shares a much-needed boost. What is the S&P 500? The S&P 500 (aka Standard and Poor’s 500) is one of the three major stock indices in the United States, the others being the Dow and...