Online broker Robinhood Markets will join the S&P 500 index after riding the popularity of cryptocurrencies to profitability and an all-time high stock price.

The company is set to join the benchmark index on Sept. 22, along with mobile technology platform AppLovin and construction company Emcor Group.

Robinhood is having one of its best years since going public in 2021 after struggling early on. It closed below its IPO price of $38 on its first day of trading. The stock remained volatile over the next few years, finishing 2023 at $12.74 per share.

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