DoorDash's Stock Pops On S&P 500 Nod. WSM, EXE And TKO Also Join The Index
DoorDash Inc. shares were rising 7% in late trading Friday after S&P Dow Jones Indices named the company one of the newest components of the S&P 500, to take effect before the market opens on March 24.
The food-delivery company is eligible to join after recently meeting the profitability requirements. It was one of the largest candidates by market capitalization - though AppLovin Corp. (APP) and Interactive Brokers Inc. $(IBKR)$, which did not make the cut, are bigger. AppLovin's stock was down about 4% in late trading, while Interactive Brokers shares were down fractionally.
Coinbase Global Inc. $(COIN)$ is another name some were hoping might get added to the index, but it didn't get chosen this time. Shares of the cryptocurrency marketplace were off 1.8%.
Joining DoorDash $(DASH)$ in the S&P 500 SPX will be TKO Group Holdings Inc. $(TKO.UK)$, Williams-Sonoma Inc. (WSM) and Expand Energy Corp. $(EXE)$ Those stocks were up roughly 4%, 3.5% and 3%, respectively, in Friday's extended session.
The four companies are due to replace Borgwarner Inc. $(BWA)$, Teleflex Inc. $(TFX)$, Celanese Corp. $(CE)$ and FMC Corp. (FMC) in the benchmark index.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10