Major Stocks Surge After Officially Joining the S&P 500 Index

📈 After announcing that the company would join the S&P 500 Index on July 23, replacing Hess, which was acquired by Chevron, Block Inc.'s stock price surged more than 10% in after-hours trading.

This means that Block will be included in the portfolios of ETFs, mutual funds, and asset management companies, benefiting from the cash flow of the index. This is the second cryptocurrency-related company to be included in the S&P 500 Index.

🏦 Block Inc. (formerly Square) is a fintech company co-founded by Jack Dorsey (founder of Twitter), known for its payment solutions, Cash App, and its growing business in the Bitcoin and blockchain space.