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OEXN: Robinhood soars to all-time high ahead of S&P 500 debut

Robinhood (HOOD) shares jumped over 15% Monday to a record high after news it will join the S&P 500 (^GSPC) on Sept. 22. AppLovin (APP) and Emcor (EME) will also be added, replacing MarketAxess (MKTX), Caesars Entertainment (CZR), and Enphase Energy (ENPH). AppLovin gained 11%, while Emcor dipped slightly. Enphase closed down just over 2%. Robinhood’s S&P 500 debut caps years of explosive growth, fueled by retail trading during the pandemic and its early adoption of cryptocurrency. Its user base surged from 11.7 million in late 2020 to 21.3 million by mid-2021, with IPO proceeds of $2.1 billion in 2021 and $2.95 billion in revenue in 2024. AppLovin’s market cap skyrocketed from $13.5 billion at the end of 2023 to $100+ billion in 2024, supported by $4.7 billion in revenue. Emcor, with $14.6 billion in 2024 revenue, is pushing into AI data center infrastructure as Big Tech races to expand computing power.

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Publication date:

2025-09-10 12:29:51 (GMT)

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