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Index-tracking stock funds with $350 billion in assets are set for a significant revamp later this month. This follows S&P Dow Jones Indices' decision to retool its rules to curb the dominance of the largest companies. As part of these changes, S&P500 index trackers will need to purchase approximately 100 million shares of Palantir ($PLTR), which has seen a 335% increase within two years and is currently valued at 100 times earnings.
S&P500 index trackers will have to purchase approximately 100M shares of $PLTR https://t.co/ohEssiY3Qu
Index-tracking stock funds with $350 billion in assets are due for a big revamp later this month, after S&P Dow Jones Indices retooled its rules to curb the dominance of the largest companies https://t.co/85DubOye4B
Hey, we've got a great idea!💡 Let's add $PLTR to the S&P 500 after a +335% increase within 2 years as it comes up against technical resistance level. 😆 Let's just give it a shot, just to see what happens as we approach rate cuts.😬 https://t.co/1IJ0dTLCLI https://t.co/GdTpcsvHo3