Robinhood continues rally ahead of S&P 500 rebalance

Robinhood (Hood) shares are traded again on Friday before the S&P 500 tonight, representing the sixth consecutive day of the superior performance of the stock. Earlier this week, Bofa indicated that he saw Robinhood “a major candidate” to join the S&P 500. This is not the first time that the Wall Street Robinhood is called as a possible selection. For March re -balance, Barclays had already included Robenol in the list of potential candidates for its inclusion in the S&P 500.

The main candidate: After hosted a quarterly update meeting with Emma Huang from Bofa and the company’s index against the S&P balance on Friday, June 6, at 5:15 pm, Bofa looks at Robinhood as a “major candidate” for the S&P 500 with the upcoming re -balance. The company looks at Cheniere Energy (LNG), FLTER ENTERTAINMENT (FLUT), Veva (Veev), Carvana (CVNA), Arish Bofa added that the administration (ARES) and Applovin (App) as the best candidates for interactive additions and mediators (IBKR) as a “better migration candidate” than S&P 400. For Robinhood or Ares, which is not part of the S&P 400, the company notes that it expects “a large purchase activity” of negative boxes.

The S&P 500 and Rusell 1000 are the main meanings of the big long Bofa process, and when the companies are added, the company says: “We are witnessing much greater attention than only long wallet managers who are now forced to cover them and make a call.” In addition, the investment funds circulating in these indicators suffer from consistent net flows that constantly buy market makers in the holdings of these indicators because they create ETF shares, he adds.

Note: Earlier this year, Barclays said it had seen many potential candidates to include the S&P 500 as part of the balance in March in US brokers, asset directors and stock exchange group. The company saw seven of its shares as potential candidates to include the S&P 500: Ares Management (ARES), Coinbase (Coin), Robinhood, Intellectual Mediters (IBKR), LPL Financial (LPLA), Blue owl Capital (Owl), and Tradeweb Markets (TW). The company indicated that the shares chosen to insert the index are usually gained by 7 % on the first day of trading, making tonight event a potential stimulus.

Price purpose: In morning trading, Robinhood shares gained approximately 3 %, trading at $ 74.38.