“Super proud of the Uber team for S&P 500 inclusion,” wrote CEO Dara Khosrowshahi on X. Uber’s addition to the S&P 500, which rebalances quarterly, is a significant achievement for the ride-hailing giant. That’s because many people’s retirement accounts (like 401(k)s, personal investment portfolios, and IRAs) are tied to funds that track the S&P 500. During this rebalance, Uber, Jabil and Builders FirstSource will be added to the S&P 500 while Sealed Air, Alaska Air and SolarEdge Technologies will lose their spots. Standard & Poor’s estimates that about $13 trillion is tied to the S&P 500.

Source: CNN December 17, 2023 20:06 UTC