Angela Said No to Andy’s Proposal Song. The S&P 500 Just Did the Same to Robinhood

If you’ve ever watched The Office, you probably remember Andy Bernard… the try-hard middle manager who spent most of his days sucking up to Michael Scott, strumming his banjo, and handing out compliments like breath mints at church. “Tuna! Big Tuna! Love that guy!” All bark, no bite… and usually one awkward outburst away from an embarrassing moment. Well, that’s basically Robinhood right now.

After months of banjo-strumming and performance-peacocking, Robinhood just got snubbed from the S&P 500. And not just snubbed… hard passed over like that time Angela rejected Andy’s proposal song “Take a Chance on Me” in front of the entire office. Shares are down 5% this morning after S&P Dow Jones Indices announced zero changes to the benchmark.

This one stung, because Hood had been putting on a show. Bank of America literally called them a “prime candidate” for inclusion just last week. Shares had more than doubled this year. Revenue growth is nearly 60%. Gross margins are at an invigorating 91%. And just to prove they’re loaded, they even bought Bitstamp for $200M in cash. But when the music stopped… Coinbase got the rose. Hood did not.

To be fair, Coinbase pulled a 24% pop the day they were added last month. That’s the kind of passive fund-driven sugar rush every company dreams about. Robinhood’s backers were foaming at the mouth in anticipation of that same kind of love. Instead, they’re stuck at the bar, refreshing their email, wondering why the S&P 500 ghosted them. So what happened? Well, technically, the S&P said nobody was getting added. So it wasn’t just Robinhood getting iced out… but the sting hit different when you’ve already pre-gamed for your own induction party.

Also, Redburn-Atlantic just downgraded the stock to a “Sell,” saying it’s overvalued after running up 237% in the past year. Even though they increased the price target from $40 to $48, they pretty much said: “You had a good glow-up, but we’re not convinced you can hold it together when the makeup wears off.”

That said, Robinhood isn’t exactly out here eating lunch alone. They’ve got real momentum: the Bitstamp deal brings in 5,000 institutional clients and strengthens their crypto presence… their international expansion is moving fast… and Piper Sandler is still all aboard with an “Overweight” rating and a $70 target. Oh, and they’re handing out advanced trading tools to UK investors (not groundbreaking, but it’s something).

But the bigger issue is that Robinhood’s still a high-beta, market-sensitive animal that lives and dies by trading volume. When retail sentiment is hot? Robinhood looks like a genius. When things cool off? They suddenly feel like that guy still bragging about his GameStop options in 2021.

So yeah, this felt like their moment. The comeback story. The full-circle narrative. But instead of entering the S&P like Michael Jordan returning to the Bulls, they just… didn't get the call. Now they’re stuck in the annex like Andy (banjo in hand, smile barely hanging on) just hoping that next quarter, Michael finally lets them join the cool salesman club with Jim and Dwight.

At the time of publishing this article, Stocks.News holds positions in Robinhood as mentioned in the article.