Business & Economy

Uber to enter S&P 500 stock index this month

New York, Dec 1 (EFE).- American ride-hailing company Uber would enter the S&P 500 stock index on Dec. 18, some four years after its debut on the New York Stock Exchange, as reported Friday by the managing entity from the market.

Uber would be added to the index to replace the company Sealed Air, a change that is part of the quarterly adjustments of the manager S&P Dow Jones Indices to “ensure that each index is representative of its market capitalization range,” a statement read.

The announcement of the listing came after the close of Wall Street and was well received by investors, as Uber shares soared almost 5.6 percent in subsequent electronic trading.

Members of the S&P 500 must have a capitalization of more than $14.5 billion, positive results in their most recent quarter and in the four previous quarters as a whole, CNBC reported.

The listed company has appreciated 132 percent since the beginning of 2023 and has a capitalization of $116 billion.

According to its latest results, Uber has earned a cumulative $458 million in the first nine months of its fiscal year in 2023, a considerable improvement after losing $9.73 billion in the same period of 2022. EFE

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