QuidelOrtho To Replace Hibbett In S&P SmallCap 600, Effective Prior To Opening Of Trading On July 26
Portfolio Pulse from Benzinga Newsdesk
QuidelOrtho will replace Hibbett in the S&P SmallCap 600 index, effective before the market opens on July 26. JD Sports Fashion Plc is acquiring Hibbett, with the deal expected to close soon pending final conditions.
July 23, 2024 | 9:19 pm
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NEGATIVE IMPACT
Hibbett will be removed from the S&P SmallCap 600 index due to its acquisition by JD Sports Fashion Plc, which may lead to short-term selling pressure.
Removal from the S&P SmallCap 600 index can lead to selling pressure as index funds and other investors adjust their portfolios.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
QuidelOrtho will be added to the S&P SmallCap 600 index, which could increase its visibility and attract more investors.
Being added to the S&P SmallCap 600 index often leads to increased visibility and can attract more institutional and retail investors, potentially driving up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100