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Buy alert: These stocks are set to join the S&P 500

Buy alert: These stocks are set to join the S&P 500

Inclusion in major stock market indices such as the S&P 500, Nasdaq 100, and the Dow Jones Industrial Average (DJIA) tend to have a significant positive impact for the companies as they provide increased visibility, better media coverage, more inclusion in index funds, and other similar benefits.

To ensure that the indices correctly reflect the state of the economy, they get periodically rebalanced and the next one to be adjusted is the S&P 500, scheduled for after the markets close on Friday, June 21.

Given the impact of the changes, Finbold decided to take a look at the stocks likely to benefit from them this quarter.


KKR & Co (NYSE: KKR), a global investment company involved with numerous sectors, including energy, real estate, infrastructure, and many others, is the first of the three sets to be added to the index. 

KKR recorded a major, 99.10% stock price increase in the last 12 months of trading, and its market capitalization surged from $73.64 billion at the end of 2023 to $101.46 billion in June 2024.

KKR stock 12-month price chart. Source: Finbold

CrowdStrike Holdings (NASDAQ: CRWD)

CrowdStrike Holdings (NASDAQ: CRWD), the second of the three firms scheduled to be added to the benchmark index, recorded one of the more impressive stock market rises in the last 12 months as it surged 160.91%.

The technology company, primarily operating in cybersecurity, earned its place in the S&P 500 after its market cap rose from $61.31 billion to its press time value of $92.99 billion.

CRWD stock 12-month price chart. Source: Finbold

Godaddy Inc (NYSE: GDDY)

GoDaddy Inc (NYSE: GDDY) – an internet domain registry and web hosting provider – is the smallest of the three to be added to the S&P 500 index in June 2024.

While it boasts only a relatively modest market cap of $19.43 billion, it has been recording significant growth. The valuation of the company rose some $5 billion in less than 6 months from $14.98 billion. Additionally, the last 52 weeks of trading saw GDDY shares climb 89.64% from $72.57 to their press time price of $137.62.

GDDY stock 12-month price chart. Source: Finbold

The three firms are set to replace Robert Half Inc (NYSE: RHI), Comerica Inc (NYSE: CMA), and Illumina Inc (NASDAQ: ILMN) in the S&P 500, firms with respective market caps of $7, $6, and $18 billion.

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