Robinhood Joins S&P 500, Stock Soars
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Robinhood's stock price soared over 14% after S&P Global announced its addition to the S&P 500 index, effective September 22nd. This follows months of speculation and will likely trigger significant passive fund buying. The inclusion is expected to boost Robinhood's trading volume considerably. AppLovin, also added to the index, also experienced a substantial share price increase. This addition marks a significant win for Robinhood after missing the previous reshuffling.
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