DoorDash, TKO Group, Williams-Sonoma, Expand Energy to Join S&P 500
Key Takeaways
Food-delivery giant DoorDash (
DASH
) and three other firms are being added to the
S&P 500 Index
in two weeks.
S&P Global, which oversees the index, announced that along with DoorDash, WWE parent TKO Group Holdings (
TKO
), Williams-Sonoma (
WSM
), and Expand Energy (
EXE
) will be joining the prestigious list prior to the start of trading on March 24.
The four companies will be replacing Borgwarner (
BWA
), Teleflex (
TFX
), Celanese (
CE
), and FMC (
FMC
).
The moves were part of the index’s quarterly rebalancing. S&P Global explained that the new firms coming in “are more representative of the large-cap market space.”
Being part of the S&P 500 can be advantageous to the included stocks, because it exposes them to a wider group of investors who could become aware of a company through an index, plus they can be added to various
index funds
that track stocks added to the measures.
DoorDash shares edged 0.5% lower soon after markets opened Monday. Shares of TKO Group were down more than 1%, while those of Williams-Sonoma and Expand Energy were up 0.4% and 1%, respectively.
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