Yes, READ is a Scrabble word!

Letter values in Scrabble US: R 1, E 1, A 1, D 2.

Is it a valid word?

READ is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

interpret something that is written or printed
have or contain a certain wording or form
look at, interpret, and say out loud something that is written or printed
obtain data from magnetic tapes
interpret the significance of, as of palms, tea leaves, intestines, the sky; also of human behavior
interpret something in a certain way; convey a particular meaning or impression
be a student of a certain subject
indicate a certain reading; of gauges and instruments
audition for a stage role by reading parts of a role
to hear and understand
make sense of a language