Robinhood Misses S&P 500 Inclusion, Stock Slips
Robinhood’s stock took a hit after missing out on the S&P 500 index. Many investors hoped the trading platform would join the prestigious index. Though, S&P Dow Jones Indices announced no changes to the S&P 500 lineup. This news disappointed many, causing the stock to drop about 5%.
Despite its size and popularity, robinhood didn’t make the cut. Analysts had expected it to be added. Bank of America even labeled it a “prime candidate.” Yet, the committee decided to keep the current roster intact. The S&P 500 is a fixed
