Online broker Robinhood Markets will join the S&P 500 index on Sept. 22, along with AppLovin and Emcor Group. Robinhood struggled early on after its IPO in 2021 but has since rebounded, with shares tripling in 2025 to over $100. Profitability has surged due to increased interest in cryptocurrency.

The company’s success is attributed to a friendlier regulatory environment for cryptocurrency. Robinhood turned a profit of $1.56 per share in 2024, after losing 61 cents per share in 2023. Wall Street expects the company to close out 2025 with $1.64 per share in profit.

During President Donald Trump’s tenure, the SEC closed an investigation into Robinhood, declining to pursue enforcement action over allegations of failure to register certain crypto assets. Robinhood was also involved in the “meme stock” craze in 2021, restricting trading of GameStop and AMC Entertainment due to disputes between retail and institutional investors.

Shares of Robinhood surged 13.8% in morning trading, while AppLovin shares jumped 11.5%. Robinhood’s stock has seen significant growth in 2025, trading at over $100 per share, following a similar gain in 2024. Profitability has skyrocketed due to increased interest in cryptocurrency and a favorable regulatory environment.

Read more at Yahoo Finance: Robinhood joins new band of companies calling the S&P 500 their home