Interactive Brokers Climbs on Replacing Walgreens in S&P 500

Interactive Brokers Group Inc. (IBKR) saw its shares rise after the company was announced to replace Walgreens Boots Alliance Inc. (WBA) in the S&P 500 index. The change will be effective prior to the opening of trading on Monday, March 15, 2021. Interactive Brokers, an electronic trading platform, will join the benchmark index as Walgreens is removed. This move reflects the ongoing shifts in the economy, with the financial technology company gaining prominence while the pharmacy chain faces challenges. The announcement came after the close of regular trading on Friday. In the post-market session, Interactive Brokers' shares climbed over 3%, indicating investor optimism about the company's inclusion in the S&P 500. The S&P 500 index is a widely followed benchmark that tracks the performance of the 500 largest U.S. publicly traded companies. Inclusion in the index can bring increased visibility and potentially drive more investment in a company's stock.