$Chewy (CHWY.US)$ shares are trading 8% higher Monday after it was announced the company will join the S&P MidCap 400 before Wednesday's November 6, 2024 market open.
Chewy will replace $Stericycle (SRCL.US)$ in the index while Stericycle will be removed from the S&P MidCap 400 as $Waste Management (WM.US)$ completes the acquisition of it.
With its addition to the index, Chewy’s presence in the Consumer Discretionary sector of the MidCap 400 will be elevated, potentially attracting new institutional interest and boosting trading volume.
Along with Chewy's addition to the S&P MidCap 400, it follows the exit of retail investor Keith Gill, aka "Roaring Kitty," from his position in the company.
