Shares of Robinhood Markets (HOOD) and AppLovin (APP) fell about 7% and 6%, respectively, Monday as neither was added to the 澳洲幸运5官方开奖结果体彩网:S&P 500 as some had anticipated.

S&P Global, which produces the index, madꦰe no changes to the prestigious index in its June rebalancing. 

Bloomberg said that analysts, including those at Bank of America and Barclays, had speculated that Robinhood would be added, sending the online trading platform's shares soaring to an all-time high Friday.

Some intrigue was involved in the AppLovin story. CNBC reported in March that 澳洲幸运5官方开奖结果体彩网:short seller Fuzzy Panda Research urged S&P Global to keep the mobile marketing platform out of the index. The network cited a letter from Fuzzy Panda calling AppLovin a "nexus of a house of cards," and claimed it violated the app store policies of Alphabet's (GOOGL) Google and Apple (AAPL).

Inclusion in the S&P 500 can be advantageous to stocks, because it exposes them to a wider group of investors who could become aware of those companies through an index. In addition, they can be put into various 澳洲幸运5官方开奖结果体彩网:index funds that track S&P 500 stocks. 

Despite today's losses, shares of both Robinhood Markets and AppLovin are comfortably higher year-to-date.