SolarWinds To Replace SunPower In S&P SmallCap 600, Effective Prior To The Opening Of Trading On August 9
Portfolio Pulse from Benzinga Newsdesk
SolarWinds will replace SunPower in the S&P SmallCap 600 index, effective before the opening of trading on August 9. SunPower has filed for Chapter 11 bankruptcy, making it ineligible for continued inclusion in the index.
August 06, 2024 | 9:30 pm
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NEGATIVE IMPACT
SunPower has filed for Chapter 11 bankruptcy and will be removed from the S&P SmallCap 600 index.
The Chapter 11 bankruptcy filing indicates severe financial distress, which will likely lead to a significant decline in SunPower's stock price. Additionally, being removed from the S&P SmallCap 600 index could result in further selling pressure.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
SolarWinds will be added to the S&P SmallCap 600 index, replacing SunPower.
Being added to the S&P SmallCap 600 index can increase visibility and attract more institutional investors, potentially leading to a positive impact on SolarWinds' stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100