The Trade Desk Stock Surges On S&P 500 Inclusion — Robinhood, AppLovin Shares Slide

The Trade Desk Inc TTD shares are surging in Monday’s after-hours session after the company was selected to join the S&P 500.

What Happened: After the market close on Monday, S&P Dow Jones Indices announced that The Trade Desk will replace ANSYS Inc ANSS in the S&P 500, effective prior to the market open on July 18.

The index adjustment comes as Synopsys Inc SNPS is expected to complete its acquisition of Ansys on July 17.

The Trade Desk offers a self-service, cloud-based platform for buyers of digital advertising.

Shares of Robinhood Markets Inc HOOD and Applovin Corp APP are moving lower in Monday’s after-hours session as the companies had been thought to be strong contenders for potential S&P 500 inclusion. Robinhood stock was down about 1% and AppLovin shares were down about 2.5% at the time of writing.

Robinhood and AppLovin shares also moved lower at the beginning of July after Datadog was selected to replace Juniper Networks in the S&P 500.

TTD Price Action: The Trade Desk shares were up 14.23% in after-hours, trading at $86.67 at the time of publication Monday, according to Benzinga Pro.

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