Chewy shares are trading higher after it was announced that the company will join the S&P MidCap 400 prior to the opening of trading on Wednesday, November 6, 2024.
Portfolio Pulse from Benzinga Newsdesk
Chewy shares are trading higher following the announcement that the company will join the S&P MidCap 400 index on November 6, 2024.
November 01, 2024 | 9:21 pm
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Chewy's inclusion in the S&P MidCap 400 index has led to a rise in its stock price as investors anticipate increased demand for its shares.
Inclusion in a major index like the S&P MidCap 400 typically results in increased demand for a company's shares as index funds and ETFs that track the index will need to purchase the stock. This often leads to a short-term price increase.
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