No. of Recommendations: 1
I had mentioned Uber in my previous message. Uber shares are rallying 11% right now on management announcing plans to buy back up to $7B of stock.
investors.com - Uber stock buyback planThis is undoubtedly contributing to the rise in the S&P 500 today. When you invest in an index, the people who manage the index periodically replace losers that no longer meet their standards with new companies that do. They kicked out Sealed Air Corp (SEE), a company few people have heard of - it was experiencing lower revenues, and its market cap shrank to $5B. And replaced it with Uber, a global brand with $37B of revenue growing at 15% YoY.
This is another advantage you get when you invest in SPY or VOO.
