Crypto share Robinhood not included in the S&P500 Quarter Rescue

It was a disappointing weekend for long -term shareholders of fintech company Robinhood (Nasdaq: HOOD), Since the share was not included in the quarterly repertination of the S&P 500 on Friday.

The announcement was made on Friday after closing the stock markets. Robinhood was considered one of the most likely shares to be added to the S&P 500, together with Applovin (Nasdaq: App) and The Trade Desk (Nasdaq: TTD). It was expected that at least two of these companies would be added, but in the end that did not happen.

The Robinhood share fell by approximately 6.25% in the after -trade trade and Applovin by 5.6% on Friday. Both shares have undergone huge rallies awaiting their admission to the benchmark index, but both will now have to wait at least another quarter. The shares of Robinhood have risen by almost 40% in the past month and those of Applovin by more than 23%.

So, which shares have been added to the S&P 500? None! In a rare decision, no changes were made to the benchmark index this quarter. Last time, Crypto Fair was Coinbase Global (Nasdaq: COIN) Added to the fair, a milestone for the sector. Coinbase is the first cryptog -related share that has been added to the S&P 500. Last year Strategy became (Nasdaq: MSTR) Added to the Nasdaq 100 index, but has not yet joined the S&P 500.

A few months postponement

Robinhood will have to wait a few months before it is possible to be added to the index, so some downward pressure could arise in the short term. Many investors counted on the fact that admission to the S&P 500 would go further, despite the strong profits it has already made this year.

Although the decision was disappointing, Robinhood still has enough wind to make it an excellent long -term investment. The brand is synonymous with private investors who act in shares and Crypto Paluta And those there are banking. Popular products include the Robinhood Gold Credit card, 24/5 stock trade and the new Robinhood Wealth Management service. A relapse on this point would be good for the share, after it experienced a parabolic increase earlier this year. The price has risen considerably above the most important advanced averages, so some lateral consolidation while the progressive averages would catch up with the price of the share, Bullish would be. Robinhood has not yet tested the record highs, which were reached after the IPO in July 2021.