Reddit stock increased by 15 per cent due to S&P 500

Reddit stocks rose by more than 15 per cent in early-discount transactions after they were included in the S&P 500 index. The S&P Dow Jones Index was announced on the evening of Thursday and Reddit will be added before the transaction starts on 18 August. Steve Hafmann, co-founder of Reddit, stated that the Platform was using artificial intelligence to increase advertising sales and attract disappointed users of AI content. Reddit recently reported a 61 per cent year-on-year increase in revenue in the second quarter, to $805 million, and a sharp increase in advertising revenues. Despite the 22 per cent fall in Reddit equities this year, analysts believe that their community and the investments realized in advertising will generate sustainable annual income growth。