Now that $RDDT is going into the S&P 500 next week, the index funds only have 2 days to buy ~30.4M shares which is ~21.5% of the float… curious to see where the price goes over the next couple days but I suspect it goes higher on forced buying. Feel free to check my numbers but here’s how I came up with it… $RDDT’s float is approx 141.6M shares, multiply that by $158 (last nights close) and you get a float adjusted market cap of $22.4B $22.4B market cap would be ~0.032% position size in the S&P 500 There’s approx $15 trillion indexed to the S&P 500 and those funds will need to buy $RDDT. $15 trillion x 0.00032 = $4.8 billion $4.8 billion / $158 = 30.4M shares 30.4M shares / 141.6M float = 21.5% NFA. DYOR. *We are long $RDDT at @FirstWaveFund
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