Shares of Robinhood Markets Inc. (NASDAQ: HOOD) soared 13.50% to $114.92 on Monday, putting the stock on pace for its best single-day performance since early April.
S&P 500 boost
The surge came after S&P Global announced that Robinhood and AppLovin would be added to the S&P 500 index, a milestone that typically boosts investor confidence and attracts significant institutional flows from index-tracking funds.
By midday trading, Robinhood jumped nearly 15%, while AppLovin rallied about 12%, both heading for their strongest sessions in months.
Market snapshot
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Previous close: $101.25
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Day range: $110.12 – $116.78
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52-week range: $18.83 – $117.70
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Market cap: $102.08B
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Avg volume: 39.22M
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P/E ratio: 58.48
Robinhood’s sharp rally underscores how index inclusions can act as major catalysts, particularly for fast-growing tech and fintech firms that have already been gaining strong retail and institutional interest.
