Being included in major stock market indices like the S&P 500, Nasdaq 100, and the Dow Jones Industrial Average (DJIA) can be highly beneficial for companies. It provides them with increased visibility, better media coverage, and more inclusion in index funds. In order to accurately reflect the state of the economy, these indices are periodically rebalanced, with the S&P 500 being the next one scheduled for adjustment after the markets close on Friday, June 21. The impact of these changes has led Finbold to identify the stocks that are likely to benefit from them this quarter.
KKR & Co (NYSE: KKR), a global investment company involved in numerous sectors, including energy, real estate, and infrastructure, is the first of the three companies to be added to the S&P 500. KKR has experienced a significant 99.10% increase in stock price over the last 12 months, with its market capitalization surging from $73.64 billion to $101.46 billion in June 2024.
CrowdStrike Holdings (NASDAQ: CRWD) is the second company set to be added to the S&P 500. The technology company, primarily operating in cybersecurity, has seen a remarkable 160.91% rise in the stock market over the last 12 months, with its market cap rising from $61.31 billion to $92.99 billion.
Finally, GoDaddy Inc (NYSE: GDDY), an internet domain registry and web hosting provider, is the smallest of the three companies to be added to the S&P 500 index in June 2024. Despite its relatively modest market cap of $19.43 billion, the company has shown significant growth. In less than 6 months, the valuation of the company rose by $5 billion. Additionally, its shares climbed 89.64% from $72.57 to their press time price of $137.62 over the last 52 weeks of trading.
These three companies are set to replace Robert Half Inc (NYSE: RHI), Comerica Inc (NYSE: CMA), and Illumina Inc (NASDAQ: ILMN) in the S&P 500, with respective market caps of $7, $6, and $18 billion.
