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Block surges 10% as it joins the S&P 500 index
Fintech firm Block will be added to the S&P 500 on July 23, marking a milestone in its evolution from payments startup to index heavyweight.
In a major development that has sent shockwaves through the financial markets, S&P Dow Jones Indices announced today that Block Inc. is set to join the prestigious S&P 500, replacing Hess Corp on July 23. The sudden news has caused an unprecedented surge of over 10% in Block’s stock price in extended trading.
This significant move reflects investor confidence in its long-term fundamentals and further solidifies Block’s position as a major player in the global fintech space.
Source: cryptobriefing.com
