July 15 - The Trade Desk (TTD, Financial) rose more than 9% on Tuesday after S&P Dow Jones Indices said the company would be added to the S&P 500 later this week, replacing Ansys (ANSS, Financial).
The change will take effect before trading begins on July 18. It follows news that Synopsys (SNPS, Financial) received final regulatory clearance from China to acquire Ansys in a $35 billion transaction. The deal is expected to close Thursday.
Shares of The Trade Desk had dropped over 30% year-to-date prior to the update. Its inclusion in the benchmark index may draw fresh investor interest, particularly from index-tracking funds and ETFs.
The move follows a similar change last week when Datadog (DDOG, Financial) joined the S&P 500 after Hewlett Packard Enterprise (HPE, Financial) completed its purchase of Juniper Networks. Such rebalancing often fuels short-term trading activity as funds adjust their holdings.
Analysts noted the S&P 500 entry could provide a sentiment boost for The Trade Desk, even as broader tech valuations face ongoing scrutiny in a volatile market environment.
