Reported Earlier, SolarWinds To Join S&P SmallCap 600, Replacing SunPower Following Bankruptcy Filing
Portfolio Pulse from Benzinga Newsdesk
SolarWinds Corp. (NYSE: SWI) will replace SunPower Corp. (NASD: SPWR) in the S&P SmallCap 600 index following SunPower's Chapter 11 bankruptcy filing. The change will be effective prior to the opening of trading on Friday, August 9.
August 07, 2024 | 6:28 am
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POSITIVE IMPACT
SolarWinds Corp. will join the S&P SmallCap 600 index, replacing SunPower Corp. This inclusion could lead to increased visibility and potential inflows from index funds.
Inclusion in the S&P SmallCap 600 index often leads to increased visibility and potential inflows from index funds, which can positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SunPower Corp. has filed for Chapter 11 bankruptcy and will be removed from the S&P SmallCap 600 index. This development is likely to negatively impact the stock price.
Filing for Chapter 11 bankruptcy and removal from the S&P SmallCap 600 index are significant negative events that are likely to lead to a decline in the stock price.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100