Deckers Outdoor shares are trading higher after it was announced the company will join the S&P 500.
Portfolio Pulse from Benzinga Newsdesk
Deckers Outdoor shares are trading higher following the announcement that the company will be added to the S&P 500 index.
March 04, 2024 | 1:39 pm
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POSITIVE IMPACT
Deckers Outdoor's inclusion in the S&P 500 is likely to increase its stock price in the short term due to heightened visibility and demand from index funds.
Being added to the S&P 500 often leads to an increase in stock price as index funds and other investment vehicles that track the S&P 500 are required to purchase shares of the newly added company. This increased demand can temporarily drive up the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100