Uber Technologies shares are trading higher after-hours Friday after it was announced that the company would join the S&P 500 index.
Portfolio Pulse from Benzinga Newsdesk
Uber Technologies' stock is trading higher in after-hours on Friday following the announcement that the company will be included in the S&P 500 index.
December 01, 2023 | 10:52 pm
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Uber Technologies' inclusion in the S&P 500 index is likely to result in increased demand for shares from index funds and investors, potentially driving the stock price up in the short term.
Inclusion in a major index like the S&P 500 often leads to a short-term increase in stock price due to the buying activity from index funds and other investment vehicles that track the index. This typically results in higher demand for the stock, which can drive up the price.
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