Robinhood Soars on S&P 500 Inclusion as Strategy Gets Snubbed

Shares of Robinhood jumped 7% in after-hours trading Friday after the retail brokerage was named to the S&P ￰0￱ Takeaways: Robinhood shares jumped 7% after being added to the S&P 500, joining the index on September 22. Strategy, despite a $95B valuation and $70B in Bitcoin holdings, was left out of the ￰1￱ posted strong Q2 earnings, with $989M in revenue and $386M in ￰2￱ (HOOD) closed just above $101 and soared past $108 in extended trading following the ￰3￱ company’s share price has climbed over 150% year-to-date, driven by strong earnings and growing retail interest in stocks and ￰4￱ to Join S&P 500 on September 22 Robinhood will officially join the index on September 22 , alongside ad-tech firm AppLovin, according to S&P Dow Jones ￰5￱ Robinhood celebrates its inclusion, Strategy, the Bitcoin treasury firm formerly known as MicroStrategy, was left off the list, despite meeting S&P’s $20 billion market cap requirement.

Strategy, which now holds more than $70 billion in Bitcoin, saw its shares fall 3% in after-hours trading following the ￰6￱ omission surprised some observers, given Strategy’s $95 billion valuation and its pioneering role in bringing Bitcoin to public balance ￰7￱ in Tysons Corner, Virginia, the company has become synonymous with corporate crypto ￰8￱ S&P reshuffle comes amid rising institutional interest in digital assets and a more favorable political ￰9￱ $MSTR snubbed from S&P 500 inclusion The education & BATTLE continues S&P 500 needs $MSTR , $MSTR doesn't need S&P 500 Bitcoin deserves a spot in every retirement account AppLovin, Robinhood, and Emcor included ￰10￱ — Jeff Walton (@PunterJeff) September 5, 2025 Earlier this year, Coinbase was added to the S&P index , signaling growing recognition of crypto-native companies in traditional financial markets.

Robinhood’s strong fundamentals further fueled its ￰11￱ Q2, the company posted $989 million in revenue, up 45% year-over-year, beating Wall Street ￰12￱ income hit $386 million, with earnings per share of $0.42, well above analyst ￰13￱ trading revenue came in at $160 million, nearly doubling year-over-year but down from the previous quarter’s $252 million. Meanwhile, income from options trading and equities reached $265 million and $66 million, respectively, making options Robinhood’s top revenue stream once ￰14￱ Sues Nevada, New Jersey Regulators Over Event Contracts Last month, Robinhood Derivatives took legal action against regulators in Nevada and New Jersey, accusing the states of unfairly blocking its entry into the sports event contracts market, despite recent federal court rulings in favor of rival platform ￰15￱ firm said it began offering event contracts in both states after federal judges ruled earlier this year that Nevada and New Jersey gaming regulators could not enforce their bans against Kalshi, which offers contracts regulated by the ￰16￱ Futures Trading Commission (CFTC).

Robinhood argued that regulators have ignored those rulings and continued to threaten enforcement action, creating an uneven playing field. “If state regulators are permitted to act against Robinhood but not Kalshi, then Robinhood will lose out in the sports event contracts space,” the company said in its filings. Meanwhile, Robinhood has come under regulatory fire in the EU after launching tokenized stock products linked to private companies like OpenAI and ￰17￱ Bank of Lithuania confirmed it is investigating the legality and investor disclosures related to these blockchain-based “Stock Tokens,” which launched on June ￰18￱ publicly disavowed any connection, stating it never approved the tokens and warning investors to be cautious.