Question: Moderna (Ticker: MRNA) announce that it will join the S&P 500 Index on July 21, 2021 and the stock price jumped. Same thing happened with

Moderna (Ticker: MRNA) announce that it will join the S&P 500

Moderna (Ticker: MRNA) announce that it will join the S&P 500 Index on July 21, 2021 and the stock price jumped. Same thing happened with Tesla when it was announced that Tesla will join the S&P 500 Index on December 2, 2020. Recently this week on February 1, 2022, Google (Alphabet) announced a 20 for 1 stock split and the market cheered the news by raising its price. Explain the behavioral and/or fundamental reason behind the market reaction

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