Chewy Set to Join S&P MidCap 400; Chewy Will Replace Stericycle Inc In The S&P MidCap 400 Effective Prior To The Opening Of Trading On Wednesday, November 6
Portfolio Pulse from Benzinga Newsdesk
Chewy (CHWY) is set to join the S&P MidCap 400, replacing Stericycle Inc (SRCL) effective before the market opens on November 6.
November 01, 2024 | 9:17 pm
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NEGATIVE IMPACT
Stericycle will be removed from the S&P MidCap 400, which may decrease its visibility and lead to selling pressure from index funds.
Removal from the S&P MidCap 400 can lead to decreased demand for Stericycle's stock as index funds tracking the S&P MidCap 400 will sell shares. This can result in a negative short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Chewy will be added to the S&P MidCap 400, which could increase its visibility and attract more institutional investors.
Inclusion in the S&P MidCap 400 can lead to increased demand for Chewy's stock as index funds tracking the S&P MidCap 400 will need to purchase shares. This can result in a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100