[apstats]

If this were surprise news maybe, but this is the type of news that is priced in slowly over time and somewhat expected. Basically when sophisticated people bought uber a year ago one of the drivers of a higher price was the assumption it might be included in the S&P500.

A lot of things in finance and markets are self fulfilling prophecies like this, for example just look at the fed. They are the classic example of expectations > action.

[travisjungroth]

There’s still a jump proportional to how unexpected it was by the market as the bets are settled, so to speak. Until it’s announced, there’s some contingency that thinks it won’t happen and is putting downward pressure on the stock. Eyeballing the small jump here hints that it was a small contingency.