Datadog Inc (NASDAQ:DDOG) shares are trading higher in Wednesday’s after-hours session after it was announced the company will join the S&P 500.
What Happened: After market close on Wednesday, S&P Dow Jones Indices announced that Datadog will replace Juniper Networks in the S&P 500, effective prior to the market open on July 9.
The shakeup comes after Hewlett Packard Enterprise completed its acquisition of Juniper on Wednesday.
Datadog operates a monitoring and security platform for cloud applications.
Shares of Robinhood Markets Inc (NASDAQ:HOOD), AppLovin Corp (NASDAQ:APP), Interactive Brokers Group Inc (NASDAQ:IBKR) and Carvana Co (NYSE:CVNA) were all trading lower at last check as they had been considered strong candidates for potential S&P 500 inclusion.
Robinhood shares were hit the hardest, last down about 2.3% in after-hours after climbing to new all-time highs in Wednesday’s regular session.
DDOG Price Action: Datadog shares were up 9.40% in extended trading on Wednesday, trading at $147.70 at the time of publication, per Benzinga Pro.
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