Reddit (RDDT) shares fell in after-hours trading following the company’s exclusion from the latest S&P 500 index reconstitution. Investor speculation regarding potential inclusion led to disappointment and a subsequent price drop during extended hours.
Wells Fargo issued a positive forecast despite the market reaction, citing significant AI data licensing potential. The bank projects annual revenue from Google and OpenAI deals could reach $550 million upon renewal. This estimate represents a sharp increase from the current $130 million annual run rate.