Block Shares Surge as Company Joins S&P 500, Replacing Hess
TL;DR Summary
Block, a financial technology company formerly known as Square, will join the S&P 500 index, leading to an 11% increase in its shares. The addition was somewhat unexpected, as Robinhood and Applovin were considered prime candidates due to their larger market caps, but S&P Dow Jones Indices has discretion over the index composition.
- Block to Replace Hess in S&P 500 Index. Shares Jump on Admission News. Barron's
- Block shares soar 10% on entry into S&P 500 CNBC
- Jack Dorsey’s Block Is Set to Join S&P 500 Index, Replacing Hess Bloomberg
- Block Stock Jumps on S&P 500 Inclusion, Replacing Hess Investopedia
- Square Parent Block Jumps On S&P 500 News; Robinhood Snubbed Yet Again Investor's Business Daily
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