Latest news with #SteveHuffman
Yahoo
6 days ago
- Business
- Yahoo
Reddit Set to Join Russell® 3000 Index
SAN FRANCISCO, May 28, 2025--(BUSINESS WIRE)--Reddit, Inc. (NYSE: RDDT) is set to join the broad-market, widely held Russell indexes later this quarter. Reddit debuted on the public markets in March 2024 as RDDT and remains one of the most visited websites in the world. Reddit retains an important position in the data and AI landscape with 100,000+ communities about nearly any topic and the largest corpus of human conversation on the internet today. As part of the recent 2025 Russell indexes reconstitution, a preliminary list of additions including Reddit was posted on May 23, 2025. Reddit will be added to the Russell 3000 index at the close of business June 27, 2025. In addition, Reddit will also be automatically added to either the Russell 2000 or Russell 1000 index. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. "Being included in the Russell index is a meaningful milestone for Reddit. It puts us in good company and is a testimony to the platform we've built with our communities," said Steve Huffman, Co-Founder and CEO of Reddit. "As we grow, we aim to join other leading indexes and believe Reddit's unique strengths—our communities, content, and culture—position us well for the road ahead." Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website. About Reddit Reddit is a community of communities. It's built on shared interests, passion, and trust and is home to the most open and authentic conversations on the internet. Every day, Reddit users submit, vote, and comment on the topics they care most about. With 100,000+ active communities and 108+ million daily active unique visitors, Reddit is one of the internet's largest sources of information. For more information, visit About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell. View source version on Contacts Investor Relations Jesse Roseir@ Media Relations Gina Antoninipress@ Sign in to access your portfolio
Associated Press
6 days ago
- Business
- Associated Press
Reddit Set to Join Russell® 3000 Index
SAN FRANCISCO--(BUSINESS WIRE)--May 28, 2025-- Reddit, Inc. (NYSE: RDDT) is set to join the broad-market, widely held Russell indexes later this quarter. Reddit debuted on the public markets in March 2024 as RDDT and remains one of the most visited websites in the world. Reddit retains an important position in the data and AI landscape with 100,000+ communities about nearly any topic and the largest corpus of human conversation on the internet today. As part of the recent 2025 Russell indexes reconstitution, a preliminary list of additions including Reddit was posted on May 23, 2025. Reddit will be added to the Russell 3000 index at the close of business June 27, 2025. In addition, Reddit will also be automatically added to either the Russell 2000 or Russell 1000 index. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. 'Being included in the Russell index is a meaningful milestone for Reddit. It puts us in good company and is a testimony to the platform we've built with our communities,' said Steve Huffman, Co-Founder and CEO of Reddit. 'As we grow, we aim to join other leading indexes and believe Reddit's unique strengths—our communities, content, and culture—position us well for the road ahead.' Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the 'Russell Reconstitution' section on the FTSE Russell website. About Reddit Reddit is a community of communities. It's built on shared interests, passion, and trust and is home to the most open and authentic conversations on the internet. Every day, Reddit users submit, vote, and comment on the topics they care most about. With 100,000+ active communities and 108+ million daily active unique visitors, Reddit is one of the internet's largest sources of information. For more information, visit About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell. View source version on CONTACT: Investor Relations Jesse Rose [email protected] Relations Gina Antonini [email protected] KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: TECHNOLOGY SOCIAL MEDIA COMMUNICATIONS INTERNET SOURCE: Reddit, Inc. Copyright Business Wire 2025. PUB: 05/28/2025 08:26 AM/DISC: 05/28/2025 08:25 AM
Yahoo
6 days ago
- Business
- Yahoo
Reddit Set to Join Russell® 3000 Index
SAN FRANCISCO, May 28, 2025--(BUSINESS WIRE)--Reddit, Inc. (NYSE: RDDT) is set to join the broad-market, widely held Russell indexes later this quarter. Reddit debuted on the public markets in March 2024 as RDDT and remains one of the most visited websites in the world. Reddit retains an important position in the data and AI landscape with 100,000+ communities about nearly any topic and the largest corpus of human conversation on the internet today. As part of the recent 2025 Russell indexes reconstitution, a preliminary list of additions including Reddit was posted on May 23, 2025. Reddit will be added to the Russell 3000 index at the close of business June 27, 2025. In addition, Reddit will also be automatically added to either the Russell 2000 or Russell 1000 index. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. "Being included in the Russell index is a meaningful milestone for Reddit. It puts us in good company and is a testimony to the platform we've built with our communities," said Steve Huffman, Co-Founder and CEO of Reddit. "As we grow, we aim to join other leading indexes and believe Reddit's unique strengths—our communities, content, and culture—position us well for the road ahead." Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website. About Reddit Reddit is a community of communities. It's built on shared interests, passion, and trust and is home to the most open and authentic conversations on the internet. Every day, Reddit users submit, vote, and comment on the topics they care most about. With 100,000+ active communities and 108+ million daily active unique visitors, Reddit is one of the internet's largest sources of information. For more information, visit About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell. View source version on Contacts Investor Relations Jesse Roseir@ Media Relations Gina Antoninipress@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
6 days ago
- Business
- Business Wire
Reddit Set to Join Russell ® 3000 Index
SAN FRANCISCO--(BUSINESS WIRE)--Reddit, Inc. (NYSE: RDDT) is set to join the broad-market, widely held Russell indexes later this quarter. Reddit debuted on the public markets in March 2024 as RDDT and remains one of the most visited websites in the world. Reddit retains an important position in the data and AI landscape with 100,000+ communities about nearly any topic and the largest corpus of human conversation on the internet today. As part of the recent 2025 Russell indexes reconstitution, a preliminary list of additions including Reddit was posted on May 23, 2025. Reddit will be added to the Russell 3000 index at the close of business June 27, 2025. In addition, Reddit will also be automatically added to either the Russell 2000 or Russell 1000 index. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. 'Being included in the Russell index is a meaningful milestone for Reddit. It puts us in good company and is a testimony to the platform we've built with our communities,' said Steve Huffman, Co-Founder and CEO of Reddit. 'As we grow, we aim to join other leading indexes and believe Reddit's unique strengths—our communities, content, and culture—position us well for the road ahead.' Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of June 2024, about $10.6 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, the global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the 'Russell Reconstitution' section on the FTSE Russell website. About Reddit Reddit is a community of communities. It's built on shared interests, passion, and trust and is home to the most open and authentic conversations on the internet. Every day, Reddit users submit, vote, and comment on the topics they care most about. With 100,000+ active communities and 108+ million daily active unique visitors, Reddit is one of the internet's largest sources of information. For more information, visit About FTSE Russell, an LSEG Business FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally. FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $18.1 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives. A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering. FTSE Russell is wholly owned by London Stock Exchange Group. For more information, visit FTSE Russell.
Yahoo
19-05-2025
- Business
- Yahoo
Reddit Stock Drops as Wells Fargo Warns Google's AI Search Tools Could Hurt Traffic
Reddit shares slid Monday as Wells Fargo analysts downgraded the company's stock and lowered its price target. Wells Fargo warned that Google implementing AI search tools has created disruptions in Reddit's traffic. Reddit CEO Steve Huffman said the company expects "some bumps along the way from Google."Shares of Reddit (RDDT) slipped Monday as Wells Fargo downgraded the stock amid concerns that Google's implementation of AI search features could hurt the social media company. Wells Fargo cut its price target to $115 from $168 and downgraded the stock to 'equal weight' from 'overweight.' Reddit shares fell close to 5% Monday to about $108, giving Wells Fargo's target roughly 6% upside. The stock is down about a third for 2025. The prevalence of AI search tools from Alphabet's (GOOGL) Google has created 'user disruptions [that are] likely more permanent,' Wells Fargo said. Traffic to Reddit from Google Search from logged-out users in the U.S. is likely to decline, the analysts added, which ultimately hurts advertising revenue. 'We do expect some bumps along the way from Google,' Reddit CEO Steve Huffman acknowledged earlier this month on the company's quarterly earnings call, according to a transcript made available by AlphaSense. "Given that the search ecosystem is under heavy construction, the near-term could be more bumpy than usual,' he added. Still, 10 of the 15 analysts tracked by Visible Alpha have a 'buy' rating on Reddit's stock. The consensus price target is over $150, well above Well Fargo's revision. After the company's first-quarter results, Citi analysts said they "believe there are several potential catalysts for Reddit to deliver continued user and revenue growth," including the wider rollout of new features like the AI-powered Reddit Answers. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
