Analyst: Robinhood is expected to be included in the S&P 500 index, which may trigger a large-scale purchase of passive funds

Odaily News BofA analysts pointed out that Robinhood Markets Inc. is a "prime candidate" in the S&P 500 index adjustment to be announced this Friday. The stock has recently hit a nearly four-year high as the stock market and crypto market rebounded. If included, it is expected to trigger concentrated buying by passive funds tracking the index. Coinbase's stock price rose 34% in the week when it was previously included. Analysts also mentioned that companies such as Ares Management, Carvana and AppLovin also have the potential to be selected. (Bloomberg)