SNAP will not be allowed into the S&P 500…

Joining the Standard & Poor’s 500 — an index of the nation’s biggest and most popular stocks — has long been an important mark of validation for businesses. It signals that a company has ascended to corporate America’s elite and boosts its share price by about 5%.

But the recognition won’t be bestowed on Los Angeles’ largest and best-known tech company anytime soon. Snap Inc. and other companies that limit shareholders’ voting rights aren’t eligible to become new members of the S&P 500 under a rule that went into effect Tuesday.