{"id":55901,"date":"2023-09-01T18:18:26","date_gmt":"2023-09-01T22:18:26","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/blackstone-stock-jumps-after-getting-added-to-the-sp-500\/"},"modified":"2023-09-01T18:18:29","modified_gmt":"2023-09-01T22:18:29","slug":"blackstone-stock-jumps-after-getting-added-to-the-sp-500","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55901","title":{"rendered":"Blackstone Stock Jumps After Getting Added to the S&#038;P 500"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000735251\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>Getting added to the<br \/>\n        S&amp;P 500<br \/>\n       is a big deal. For proof, look no further than Blackstone stock. <\/p>\n<p>S&amp;P Dow Jones Indices announced after Friday\u2019s close that Blackstone would replace Lincoln National in the S&amp;P 500 on Sept. 18. It\u2019s been a long time coming. In April, the index provider announced that it would allow companies with multiple share classes to be part of its benchmarks, reversing a rule that went into effect in 2017 (companies like<br \/>\n        Alphabet<br \/>\n       (GOOGL),<br \/>\n        Berkshire Hathaway<br \/>\n       (BRK.B), and<br \/>\n        Meta Platforms<br \/>\n       (META) to stay in the index).<\/p>\n<div class=\"paywall\">\n<p>Blackstone stock jumped 4.9% on the day of the announcement, as many assumed that it would be the next company to join the index. But it dropped in May, when it was passed over in favor of<br \/>\n        Axon Enterprise<br \/>\n       (AXON), the maker of Tasers, and then again in June, when<br \/>\n        Palo Alto Networks<br \/>\n       (PANW) went in instead. <\/p>\n<p>This time, Blackstone got the call to replace<br \/>\n        Lincoln National<br \/>\n       (LNC), and its stock is reacting exactly as you\u2019d imagine\u2014it\u2019s up 3.8%. That makes sense. Every exchange-traded fund or index fund that tracks the index will have to buy it, and every active manager benchmarked to the index will have to consider purchasing it. The same is true for<br \/>\n        Airbnb<br \/>\n       (ABNB), whose stock has gained 5% after it was tapped to replace<br \/>\n        Newell Brands<br \/>\n       (NWL) in the index. <\/p>\n<p>If you\u2019re a stock, this is one club you want to join. <\/p>\n<p>Write to Ben Levisohn at ben.levisohn@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/blackstone-stock-price-s-p-500-5ef71e9d?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Getting added to the S&amp;P 500 is a big deal. For proof, look no further than Blackstone stock. S&amp;P Dow Jones Indices announced after Friday\u2019s close that Blackstone would replace Lincoln National in the S&amp;P 500 on Sept. 18. It\u2019s been a long time coming. In April, the index provider announced that it would allow [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":55902,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-55901","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blackstone Stock Jumps After Getting Added to the S&amp;P 500 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Getting added to the S&amp;P 500 is a big deal. For proof, look no further than Blackstone stock. 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