Robinhood Markets Inc (HOOD) and AppLovin Corp (APP) are gapping up over 8% due to S&P end-of-month rebalancing, as funds adjust portfolios to match new index inclusions. HOOD is currently trading at $132.00, up 234.67% year-to-date, indicating strong momentum driven by institutional buying. This rebalance-driven buying could provide a short-term boost for these newly included stocks.