The S&P 500 Index confirmed on Monday that it will exclude companies issuing multiple types of shares. The decision, effective from Tuesday, will bar Snap from inclusion due to the company’s decision to offer non-voting shares. The move will not affect existing components of the index with such share arrangements, including Alphabet and Berkshire Hathaway. “While we are disappointed by Snap’s announcement, our focus remains squarely on growing revenue through continued innovation in mobile advertising and monetization across all platforms,” said Michael Pachter, an analyst at Wedbush
The S&P 500 Index confirmed on Monday that it will exclude companies issuing multiple types of shares. The decision, effective from Tuesday, will bar Snap from inclusion due to the company’s decision to offer non-voting shares. The move will not affect existing components of the index with such share arrangements, including Alphabet and Berkshire Hathaway. The changes will also apply to the S&P MidCap 400 and S&P SmallCap 600 indexes.