On June 25, Toast, Inc. rose 6.59% in regular trading, trading at $26.10/share, with turnover of $183 million. The rally was driven by the announcement that Toast will be added to the S&P MidCap 400 index.

S&P Dow Jones Indices announced that Toast will join the S&P MidCap 400, effective before the market opens on July 1. Toast will replace TopBuild Corp, which is being acquired by QXO in a deal expected to close soon pending final closing conditions. The inclusion is widely regarded as recognition of Toast's market position and liquidity profile, and is expected to attract passive fund inflows as index-tracking funds adjust their portfolios to reflect the new composition.

Toast operates a cloud-based end-to-end technology platform designed specifically for the restaurant industry, offering SaaS products, integrated payment processing, and restaurant-grade hardware solutions connecting front-of-house and back-of-house operations across dine-in, takeout, and delivery channels. The stock had already gained approximately 4% in after-hours trading on June 23 following the initial announcement.

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