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Robinhood, AppLovin to Join S&P 500 in Quarterly Rebalancing
Robinhood, AppLovin to Join S&P 500 in Quarterly Rebalancing
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BTCCSquare news:
Trading platform Robinhood Markets and mobile app monetization company AppLovin will join the S&P 500 index on September 22, replacing Caesar's Entertainment and MarketAxess Holdings respectively. Emcor will take Enphase Energy's spot in the benchmark index.
Market speculation had anticipated the additions, with Robinhood and AppLovin emerging as popular predictions. Notably absent was Bitcoin treasury company MicroStrategy, whose shares nonetheless rose Friday despite the exclusion.
The quarterly rebalancing reflects ongoing shifts in market leadership, with S&P Dow Jones Indices making both periodic adjustments and company-specific changes. Interactive Brokers and Block were among recent additions under similar circumstances.
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