W. P. Carey shares are trading higher after it was announced the company will replace Worthington Industries Inc. in the S&P MidCap 400.
Portfolio Pulse from Benzinga Newsdesk
W. P. Carey Inc. (WPC) shares are trading higher following the announcement that it will replace Worthington Industries Inc. (WOR) in the S&P MidCap 400 index.
November 28, 2023 | 3:45 pm
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NEGATIVE IMPACT
Worthington Industries Inc. shares may face selling pressure as the company is being removed from the S&P MidCap 400 index.
Being removed from an index like the S&P MidCap 400 can lead to a decrease in demand for the stock as index funds and ETFs sell their holdings. This is likely to have a short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
W. P. Carey Inc. shares are experiencing an increase in value after the announcement of its inclusion in the S&P MidCap 400 index.
Inclusion in a major index like the S&P MidCap 400 often leads to increased demand for the stock as index funds and ETFs that track the index are required to purchase shares. This typically results in a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100