Meet the Newest Growth Stock Joining the S&P 500. It's Up 73% Since the Start of May, but It's Not Too Late to Buy.

While many think of the S&P 500 as an index of unchanging companies that have stood the test of time, the truth is the index is constantly in flux. The committee in charge of determining the 500 companies included in the index is constantly evaluating its members and ensuring they maintain a set of standards required for inclusion. If a company becomes unprofitable or declines in value too much, the committee will replace it with a more deserving company when it reconstitutes the index every quarterAnother instance when the committee will add new stocks to the index is when one of the companies gets acquired, delisting their stock from the market. Such was the case earlier in July, which led to The Trade Desk's inclusion in the index. Just a week later, the committee added Block (NYSE: XYZ) to replace Hess following the latter's acquisition by Chevron.Despite a big jump in Block's stock price on the news, building on a considerable increase in its share price since the start of May, investors can still buy shares of the company at a fair price. Here's what you need to know.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool