The biggest companies not (yet) in the S&P 500

With trillions of dollars invested in ETFs that track the index, getting your company into the S&P 500 is a big deal.

So how do you join the club?

One common misconception is that it’s simply the largest 500 stocks — but the criteria that Standard and Poor's evaluates are a little more complex. To qualify, companies must meet eligibility factors including a market cap of at least $22.7 billion, a minimum of 12 months trading on a US exchange, and specific structural, profitability, and liquidity requirements. DDOG checks all the boxes, now with a $53.6 billion market cap (after yesterday’s rise) — but what are the biggest names that so far haven’t been called up?

Topping the list is AppLovin, the ad-tech company that became one of Wall Street’s darlings last year, followed by bitcoin-hoarding machine MicroStrategy.

A little further down the list is Robinhood, AI play CoreWeave, Snowflake, and Roblox.

See the full article here.