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Another noteworthy mention was Apollo, which experienced a strong initial surge following its announcement of being added to the S&P 500 alongside Workday. Despite the good news leading to a gap up in price, Apollo also reversed course to close lower on the day. This event coincided with a significant rally that saw the stock rise 85% recently.
Market experts view this reversal in context, suggesting it speaks volumes about general industrial appetite. Notably, the reversal in such a popular stock raises questions about sustainability and investor confidence in continuing strong performances across the board.