The S&P Dow Jones Indices announced no changes to its quarterly S&P 500 index on Friday. However, shares of online brokerage platform Robinhood Markets Inc. plummeted in after-hours trading as investors seemed to snub the company’s chances of joining the benchmark index. Despite being widely expected to be included, Robinhood’s stock fell after the announcement.
Source: https://www.marketwatch.com/story/the-s-p-500-isnt-changing-for-now-did-this-company-get-snubbed-b727d2ad