Thursday, March 23, 2006

Google: Welcome to the club

The venerable Google has been added to the S&P 500 and investors have cheered. Often when a company is added to a popular index, the stock rises as portfolio managers of mutual funds that track the S&P are forced to buy the stock in their portfolios, thereby driving up the price. Investors are applauding, as seen in the after-hours movement in the stock.

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