Quick Breakdown
- Robinhood and MicroStrategy shares dipped after being excluded from the S&P 500, while Interactive Brokers surged.
- Robinhood faced its second rejection despite a 190% stock surge in 2025.
- MicroStrategy’s stock drop mirrored Bitcoin’s pullback, underscoring its dependence on crypto markets.
Shares of Robinhood Markets (HOOD) and Bitcoin treasury giant MicroStrategy (MSTR) slipped in after-hours trading on Monday after both companies were left out of the S&P 500’s latest reshuffle. Instead, Interactive Brokers Group (IBKR) secured the spot, replacing Walgreens Boots Alliance.
Interactive Brokers Wins S&P 500 Inclusion
S&P Dow Jones Indices announced late Monday that Interactive Brokers would officially join the benchmark index at Thursday’s market open. The move gave the brokerage a boost, with shares climbing nearly 4% in extended trading to $65.21, after modest gains during the regular session.
For Robinhood and MicroStrategy, however, the news was a setback. Both firms had been viewed as strong contenders for the S&P 500. Robinhood’s rapid growth and MicroStrategy’s surging valuation, fueled by its massive Bitcoin holdings, had placed them on Wall Street’s watchlist for months.
Robinhood Faces Another S&P Snub
Robinhood’s stock closed Monday down 1.26% at $107.40 before shedding another 0.5% after hours. This marks the second time in recent months the trading platform has been passed over by the index committee—its shares also dipped in June following a similar decision.
MicroStrategy Drops with Bitcoin
MicroStrategy, rebranded as Strategy in the market, also faced selling pressure. Shares fell 4.17% during regular hours and slid a further 0.6% in after-hours trading to $341. The decline tracked a broader pullback in Bitcoin, which briefly slipped below $110,000 and was down 2% over the last 24 hours.
What It Takes to Enter the S&P 500
Entry into the S&P 500 requires more than a booming stock price. Companies must meet strict criteria, a market capitalization of at least $22.7 billion, headquarters in the United States, listing on the NYSE, Nasdaq, or Cboe, minimum thresholds for liquidity and trading volume
Jack Dorsey’s Block, Inc. was the last crypto-linked company to break through, officially joining the S&P 500 on July 23.
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