Michael Saylor’s company, MicroStrategy (MSTR), missed out on being added to the S&P 500 index despite a strong quarter and meeting all criteria for inclusion. The stock dropped nearly 3% after hours, erasing gains from Friday. This inclusion would have been significant for both the company and the industry.

In a surprise move, Robinhood (HOOD) was added to the S&P 500 index, driving the stock up by 7% after hours. This change will take effect on September 22, making Robinhood one of the few crypto-linked stocks in the index alongside Coinbase and Jack Dorsey’s Block.

Overall, the addition of Robinhood to the S&P 500 index marks a significant milestone for the company and the industry.

Read more at Yahoo Finance: Michael Saylor’s Strategy Snubbed by S&P 500 Amid Robinhood’s Surprise Inclusion