From CNBC: 2025-06-09 08:01:00

Robinhood shares dropped nearly 5% in premarket trading after being snubbed in the latest S&P 500 Index rebalance. Despite speculation, the company did not earn a spot in the benchmark, causing a sell-off. Last week, Bank of America had named Robinhood a top candidate for the S&P 500 reshuffling.

Although Robinhood shares have doubled this year, the online brokerage was not included in the S&P 500 Index. The company experienced a major comeback in 2021, with shares hitting a record high last week amid a rebound in stocks and crypto. The decision not to include Robinhood sparked a sell-off in premarket trading.

Read more: Robinhood shares drop after the online brokerage fails to get the nod to join the S&P 500