Making it to the Nasdaq 100 is seen by many as a rite of passage from fledgling startup to serious player.
Walgreens and rite Aid—seeing the glowing publicity CVS is benefitting from—will quickly follow suit.
It's largely born out in the film version of The rite, too.
early 14c., from Latin ritus "religious observance or ceremony, custom, usage," perhaps from PIE root *re(i)- "to count, number" (cf. Greek arithmos "number," Old English rim "number;" see read (v.)). Rite of passage (1909) is translated from French rite de passage, coined by French anthropologist Arnold van Gennep (1873-1957).