The post Robinhood added to S&P 500 with AppLovin, stocks surge 7% appeared on BitcoinEthereumNews.com.

Shares of Robinhood and AppLovin jumped nearly 7% on Friday evening after S&P Global confirmed both companies will officially join the S&P 500 index before the market opens on Monday, September 22. This information came straight from S&P Global’s index committee, which announced the change in a public statement released after trading hours. Robinhood will replace Caesars Entertainment, while AppLovin is set to take over the slot currently held by MarketAxess Holdings. This reshuffling is part of the index’s regular update cycle. When companies drop out, fund managers tracking the S&P 500 are forced to buy the replacements. That’s why both stocks rallied in after-hours trading. Fund-driven buying happens automatically, no emotions involved. The announcement closed a frustrating chapter for both firms. Robinhood, which was left out of the June quarterly rebalancing, saw its stock slide 2% at the time. AppLovin, meanwhile, had its name dragged through mud by Fuzzy Panda Research, a short seller that asked S&P’s committee in March to block the company from entering the index. When AppLovin was passed over in December in favor of Workday, its shares sank 15%. But both companies hung around long enough to get picked this time. AppLovin replaces MarketAxess while Robinhood takes Caesars’ place Robinhood, the commission-free trading platform, launched on the Nasdaq in 2021. It quickly gained a loyal base of retail traders who pushed meme stocks like AMC Entertainment and GameStop into the headlines. At its annual general meeting in June, a shareholder asked Vlad Tenev, Robinhood’s co-founder and CEO, if getting listed on the S&P 500 was part of the plan. “It’s a difficult thing to plan for,” Vlad replied. “I think it’s one of those things that hopefully happens.” He added that he believed the company was eligible. It did happen. And fast. AppLovin, which also…

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Filed under: News - @ September 6, 2025 12:29 am