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Shares of flash storage vendor Sandisk popped 7% in extended trading on Monday after the company was added to S&P 500.

Sandisk's addition to the benchmark comes nine months after the company was spun out of Western Digital . Sandisk will replace marketing company Interpublic , which is being acquired by Omnicom , S&P Global said in a statement .

It's the latest tech company to join the S&P 500, which gets an increasing amount of its value from internet, software and semiconductor businesses. AppLovin , Datadog , DoorDash and Robinhood became members of the index earlier this year.

Stocks tend to rally when they're added to

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