Investors were left disappointed after the S&P Dow Jones Indices said Friday the S&P 500 would remain unchanged.
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Robinhood
shares sold off on Monday as the online brokerage was snubbed in the latest quarterly rebalance of the S&P 500
Index after months of speculation that it could earn a coveted spot in the benchmark.
Shares of Robinhood dropped nearly 5% in premarket trading. The stock has rallied 3.3% Friday to bring last week’s gain to over 13% before the S&P Dow Jones Indices said after the bell that the S&P 500 would remain unchanged.
S&P Global said Friday that Robinhood will replace Caesars Entertainment in the S&P 500.
Robinhood Markets shares were slightly lower in extended trading. Some investors have had high hopes that the digital brokerage…
The platform's core business relies on retail investors pouring into speculative corners of the market, particularly crypto and…
Robinhood was excluded from the S&P 500 last month, a move that surprised some investors as rival fintech Block was added.
Robinhood's Venture Fund I plunged 11% in its debut on the New York Stock Exchange on Friday, casting doubt on investors'…
Truist's price target implies upside of 30% ahead for shares of Robinhood.
