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Trade Desk Stock Pops on S&P 500 Inclusion
Shares of Trade Desk Inc (NASDAQ:TTD) are up 11.4% to trade at $84.06 this morning, after news broke that the software firm will replace Ansys (ANSS) on the S&P 500 Index (SPX) before the open this Friday, July 18. The change comes after Synopsys (SNPS) agreed to purchase Ansys for $35 billion by the end of this week.
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.
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This Unstoppable Stock Just Joined the S&P 500. It Soared 2,410% Since Its 2016 IPO, and It's a Buy Right Now, According to Wall Street. The Trade Desk has been admitted to the S&P 500 index, one of ...
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