Blackstone Stock Jumps After Getting Added to the S&P 500

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S&P 500
It is a big issue. For proof, look no further than Blackstone’s inventory.

S&P Dow Jones Indices It was announced after Friday On September 18, Blackstone will replace Lincoln National with the S&P 500. In April, the index provider announced it would reverse a rule that took effect in 2017 to allow companies with multiple share classes to be part of its benchmarks.

Alphabet

(GOOGL),

Berkshire Hathaway

(BRK.B), and

Meta forums

(META) to remain in the index).

Blackstone’s stock jumped 4.9% on the day of the announcement, as many speculated that it would be the next company to join the index. But it fell in May, when it was transferred to favor

Axon Enterprise

(AXON), maker of Tasers, and then again in June, when

Palo Alto Networks

(PANW) entered instead.

This time he got the call to replace Blackstone

Lincoln National

( LNC ), and the stock is reacting as you might expect — up 3.8 percent. This makes sense. Every index-tracker should buy an exchange-traded fund or index fund, and every index-linked manager should consider buying one. It is the same for

Airbnb

(ABNB), the stock gained 5% after being tapped for replacement

New brands

(NWL) in Index.

If you’re a stockist, this is the club you want to join.

Write to Ben Levisohn at [email protected]