Reported 1 day ago
Robinhood traders who speculated on the online brokerage's inclusion in the S&P 500 faced disappointment when no changes were made to the index during its quarterly rebalancing. While Robinhood shares had soared in anticipation, they plummeted 8.4% intraday following the announcement, illustrating the risks of speculative trading. Analysts indicate that despite Robinhood's market cap meeting S&P criteria, the index committee considers other factors, suggesting a need for caution among retail investors.
Source: YAHOO