The Trade Desk's share value witnessed a surge on Tuesday, one day after S&P Dow Jones Indices announced that the digital advertising firm would replace software company Ansys in the S&P 500 index. This change is slated to go into effect before the trading session begins on Friday, July 18. The indices also indicated that Ansys would be acquired by chip design software firm Synopsys in a transaction expected to conclude on Thursday.
The Trade Desk's share figures were recently more than 9% higher. Synopsys disclosed on Monday that its $35 billion acquisition of Ansys had been approved by Chinese regulators, overcoming the deal's last regulatory barrier.
Joining the S&P 500 index can often increase share values as it introduces the company to new investors or includes it in index funds that track the benchmark's components. Just last week, Datadog became a member of the S&P 500 following Hewlett Packard Enterprise's successful acquisition of Juniper Networks, another S&P 500 entity.
It's worth noting that before the Tuesday rise, The Trade Desk had seen a decline in its share value by over 35% thus far this year. This article has been updated from its original version to include the latest share-price information.