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S&P 500 membership typically boosts stocks significantly. Previous examples include companies like Etsy and Tesla.
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Texas Pacific Land replaces Marathon Oil in S&P 500 Index. TPL shares surged 6% after the announcement. Membership often leads to stock price spikes due to institutional investment. TPL is a major landowner in the lucrative Permian Basin. Shares are up nearly 200% year-to-date.
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