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Robinhood Markets to Join the S&P 500 Index
Robinhood Markets, the retail brokerage that became synonymous with the meme-stock craze, is one of the newest members of the S&P 500 index. S&P Dow Jones Indices said Friday it would add the company, along with AppLovin and Emcor Group, to the benchmark index on Sept. 22. It is a milestone for the trading and investing firm, which has expanded beyond YOLO stock trades and crypto bets to pursue other business lines such as credit cards and wealth management. Joining the S&P 500 brings prestige to a company and typically boosts its stock price. Funds that track the index must purchase shares to rebalance their ... (full story)
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