The Trade Desk Inc (NASDAQ: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 (NASDAQ:ANSS) in the S&P 500, effective prior to the market open on July 18.
The index adjustment comes as Synopsys Inc (NASDAQ: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 (NASDAQ:HOOD) and Applovin Corp (NASDAQ: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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