Shares of Reddit (RDDT.US) surged past the 4% mark during Tuesday's opening session, trading at $157.995 per share at the time of this report. The stock has experienced significant volatility throughout August, initially plunging 20% following the release of its second-quarter earnings report.

However, the social media platform received a substantial boost after being officially added to the S&P 500 Index prior to market opening on August 18. The inclusion news drove shares higher initially, but the stock has since undergone a gradual pullback from those recent peaks before Tuesday's renewed upward momentum.

The current rally suggests investor sentiment may be stabilizing after the turbulent month, as market participants reassess the company's growth prospects and index inclusion benefits.