The Trade Desk Falls Out of the S&P 500, Dropping Straight to the SmallCap 600

S&P Dow Jones Indices will remove The Trade Desk from the S&P 500 before trading opens on 21 September, with Illumina taking its place; the ad-tech firm skips the MidCap 400 entirely and lands in the SmallCap 600 after a roughly 82% stock slide and just 14 months in the index. The demotion was announced hours after roughly 575 layoffs from the company's 15% workforce cut took effect.