10 Stocks With Eye-Popping Gains; 7 Soar to Fresh Highs

5. Robinhood Markets, Inc. (NASDAQ:HOOD)

Robinhood Markets rebounded to nearly hit its 52-week record high as investors loaded positions ahead of its official inclusion in the S&P 500 index.

At intra-day trading, Robinhood Markets, Inc. (NASDAQ:HOOD) hit its highest price for the day of $117.30, or just marginally shy of its 52-week record high of $117.70 apiece.

This followed the S&P Dow Jones Indices’ announcement late on Friday that Robinhood Markets, Inc. (NASDAQ:HOOD) was officially joining the S&P 500 index beginning September 22, replacing Caesars Entertainment.

Joining the benchmark index could be a huge boost to Robinhood Markets, Inc. (NASDAQ:HOOD) as its membership can help bolster its exposure to institutional investors and hedge funds.

The inclusion followed several months of speculation on whether it could gain a spot in the infamous benchmark after failing to join the previous quarterly rebalancing.

Investors typically load up positions in companies set to join benchmark indices to take advantage of a cheaper price, before hedge funds and institutional investors make massive acquisitions.