The Index Game

When S&P added Yahoo to its 500 list, the stock soared. Want to guess what will be next?

More powerful than Microsoft! Able to leap Time Warner in a single bound! Why, it's Yahoo! In one breathtaking trading session, Yahoo went from being a glitzy dotcom to being one of the largest corporations in the world, surpassing hundreds in market value. And what had Yahoo done to earn the additional $40 billion in market cap? Zip-o. Amazingly, the updraft was a bizarre offshoot of the company's admission, after the close last Tuesday, to the elite Standard & Poor's 500.

As I watched its astounding ascent from $212, when the S&P announced its newest pick, to $348 at the bell,...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!