Twitter About to Be Even More Ubiquitous With S&P 500 Add
- S&P Dow Jones Indices also to put Netflix in megacap S&P 100
- Twitter’s 58% gain would rank fifth-biggest in the benchmark
Photographer: Alex Flynn/Bloomberg
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Twitter Inc. was a stock market swamp for three years after going public, saddling investors with as much as $32 billion in equity losses. It took another step Monday toward putting that era behind it.
In an action that forces index funds with trillions of dollars in assets to own it, the social media company will replace Monsanto Co. in the S&P 500 prior to the start of trading June 7. A much larger internet rags-to-riches story, Netflix Inc., was added to the S&P 100, S&P Dow Jones Indices said.