The Newest Stock in the S&P 500 Has Soared 237% Since Its 2021 IPO, and It's a Buy Right Now, According to Wall Street

The S&P 500 (SNPINDEX: ^GSPC) is widely accepted as the most comprehensive benchmark of the U.S. stock market, made up of the 500 leading publicly traded companies in the nation. Given the extensive reach of the businesses that make the index, it is regarded as the most reliable measure of overall stock market performance. To be granted admission to the S&P 500, a company must meet the following conditions:Robinhood Markets (NASDAQ: HOOD) is the latest addition to the S&P 500, scheduled to join the benchmark on Sept. 22. That makes it one of only 10 companies to be granted admission so far this year.Since its initial public offering (IPO) in mid-2021, Robinhood has soundly thrashed the broader market, generating gains of 237%, compared to just 48% for the S&P 500 (as of this writing). The stock price gains have been fueled by its strong underlying fundamentals, as revenue has jumped 169% and net income has risen 1,440% -- despite struggling profits during the COVID-19 pandemic.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool