Inari Medical To Replace Callon Petroleum In S&P SmallCap 600, Effective Prior To The Opening Of Trading On Monday, April 1
Portfolio Pulse from Benzinga Newsdesk
Inari Medical will replace Callon Petroleum in the S&P SmallCap 600 before trading opens on April 1, due to APA Corp.'s acquisition of Callon Petroleum, expected to finalize around that date.
March 25, 2024 | 9:21 pm
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NEGATIVE IMPACT
Callon Petroleum is being acquired by APA Corp. and will be removed from the S&P SmallCap 600.
Being acquired and subsequently delisted from an index typically leads to a decrease in individual investor interest and can negatively impact the stock price in the short term, especially for current shareholders not continuing in the new entity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
APA Corp. is acquiring Callon Petroleum, leading to Callon's removal from the S&P SmallCap 600.
While the acquisition of Callon Petroleum by APA Corp. is a significant move, the immediate impact on APA's stock price is uncertain. The acquisition could lead to synergies and growth, but also comes with integration risks and costs.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Inari Medical is set to join the S&P SmallCap 600, replacing Callon Petroleum.
Joining an index like the S&P SmallCap 600 often leads to increased demand for a stock as index funds and ETFs that track the index adjust their holdings. This can positively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90