Shares of Paysafe (NYSE: PSFE) jumped 9.9% on Friday, boosted in part by positive mentions of the digital payments company on Reddit and other social media sites ahead of its inclusion in a popular stock index.
Paysafe will be added to the Russell 3000 Index — which comprises the 3,000 largest U.S. stocks — after the market close today. In turn, managers of funds that track the index will need to purchase shares of Paysafe.
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