Protagonist Therapeutics To Join S&P SmallCap 600, Effective Prior To Opening Of Trading On July 3
Portfolio Pulse from Benzinga Newsdesk
Protagonist Therapeutics (PTGX) will join the S&P SmallCap 600, replacing Encore Wire (WIRE) effective prior to the opening of trading on July 3. Encore Wire is being acquired by Prysmian SpA, pending final conditions.
June 27, 2024 | 9:21 pm
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NEUTRAL IMPACT
Encore Wire will be replaced by Protagonist Therapeutics in the S&P SmallCap 600 due to its acquisition by Prysmian SpA.
The acquisition by Prysmian SpA and subsequent removal from the S&P SmallCap 600 is a neutral event for Encore Wire's stock in the short term as the acquisition terms are already priced in.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Protagonist Therapeutics will join the S&P SmallCap 600, which could increase its visibility and attract more investors.
Joining the S&P SmallCap 600 can increase a company's visibility and attract more institutional investors, potentially leading to a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100