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Trade Desk's stock jumps on S&P 500 inclusion as Ansys exits index due to acquisition
Stocks often rally when they're added to a major index, as fund managers need to rebalance their portfolios to reflect the changes. With a market cap of $37 billion, the company falls right about in the middle of the S&P 500 by valuation.
Why The Trade Desk Stock Skyrocketed Tuesday Morning
After the market closed on Monday, S&P Global revealed that The Trade Desk would be joining the S&P 500. The stock will be replacing ANSYS before the market opens on Friday. In the press release that provided details of the reshuffling, S&P Global noted, "S&P constituent Synopsys will acquire ANSYS in a deal expected to be complete on July 17."
Digital advertising company The Trade Desk is joining the benchmark index today, S&P Dow Jones Indices has said.
Trade Desk’s stock is soaring, with the ad-tech company set to replace Ansys in the benchmark index later this week.
TTD stock rose after being added to S&P 500, receiving positive ratings from analysts. Price forecast lowered but still ...
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Robinhood Stock Dips In Extended Trading After Another S&P 500 Snub, But Retail Eyes ‘Turbocharge’ From Crypto Week in D.C.Robinhood Markets Inc.’s (HOOD) stock slipped in extended trading on Monday after missing out on inclusion in the S&P 500 ...
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