🔴 Reddit is trading 4% down today after profit-taking from its S&P 500 inclusion surge

Reddit is trading 4% down now at $157.87 as investors continue taking profits after the S&P 500 inclusion-driven surge.

• The stock gained 12.63% on August 14, then fell 7.63% on August 17, indicating an index-event reversal rather than a fresh earnings collapse.
• Broader risk-off trading is adding pressure, with the Nasdaq down 1.40% and S&P 500 down 0.69%.
• The prior reversal also featured volume at 1.8 times its 200-day average.