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Marathon Digital Shares Soar 16% as Stock to Join S&P Small Cap 600
$MARA Holdings (MARA.US)$ shares soared about 16% after S&P Dow Jones Indices announced last Friday that the stock will join the S&P SmallCap 600 index effective May 8.
Joining an index boosts the appeal of the stock since many funds mimic the composition of such indices, when they adjust their portfolio. Exchange-traded funds that track the index also made adjustments to their holdings according to the latest changes in the gauge.
Marathon will replace $AAON Inc (AAON.US)$, which will then move to the S&P MidCap 400 Index to take over the slot of $Vistra Energy (VST.US)$, according to S&P Global's press release. Vistra will be moving to the S&P 500, taking the place of Pioneer Natural Resources, which was acquired by $Exxon Mobil (XOM.US)$.
Disclaimer: This article is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See this link for more information.
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Luzi Ann Santos
Moomoo Senior News and Community Manager
Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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