The long anticipated and often rumored move of Facebook to the S&P 500 has finally arrived or technically will arrive on December 20 when FB will replace Teradyne, only this time we get two for the price of one. From BBG:
- FACEBOOK TO JOIN S&P 100 AND S&P 500
We can't wait for TWTR to move up in sympathy. As for the reasons behind the move - one must do whatever is needed to keep what little is left of retail speculators happy.
And in other news, Alliance Data Systems (ADS) and Mohawk (MHK) are also joining the S&P 500