Reddit Is Getting Added to the S&P 500 — But You Still Shouldn’t Buy It
· finance.yahoo.com
Index funds have no choice but to buy Reddit shares this month, and that forced demand is already sending the stock soaring. But the mechanics behind the rally tell a very different story than the price tag suggests.
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Index funds must absorb 16.7 million Reddit shares, an amount nearly 3 times the daily trading volume, forcing a price spike unrelated to business f...