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Axios Aug 1
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S&P 500 drops Snap stock

Richard Drew / AP

"S&P 500 to exclude Snap after voting rights debate," by Reuters' Trevor Hunnicutt: "The S&P 500 will start excluding companies that issue multiple classes of shares, ... a move that effectively bars Snap after its decision to offer stock with no voting rights."

  • "Existing components of the S&P index with several share classes — such as Google parent Alphabet and Berkshire Hathaway — will not be affected."