Shares of Robinhood and MicroStrategy saw a decline in the stock market following the recent S&P 500 reshuffle, while shares of Interactive Brokers increased.
Interactive Brokers Wins S&P 500 Inclusion
Late Monday, S&P Dow Jones Indices announced that Interactive Brokers would join the S&P 500, effective at Thursday's market open. The stock price surged almost 4% in after-hours trading, reaching $65.21.
Robinhood Faces Another S&P Snub
Robinhood's stock closed Monday down 1.26% at $107.40 before losing another 0.5% after hours. This marks the second time in recent months the trading platform has been overlooked by the index committee.
MicroStrategy Drops with Bitcoin
MicroStrategy shares faced selling pressure, falling 4.17% during regular trading and an additional 0.6% in after-hours trading to $341. This decline tracked a broader drop in Bitcoin, which briefly fell below $110,000.
The exclusion of Robinhood and MicroStrategy from the S&P 500 highlights the stringent standards companies must meet to be included in this index. Meanwhile, the inclusion of Interactive Brokers underscores the competitive landscape of the stock market.
