FRC - STAG jumps 7% on move to MidCap 400; AXON to S&P 500 to replace First Republic
2023-05-01 17:28:35 ET
- STAG Industrial ( NYSE: STAG ) jumped 6.7% after hours Monday on word that the stock would be moving into the S&P MidCap 400 index.
- That's a ripple effect from Axon Enterprise's ( NASDAQ: AXON ) promotion to the S&P 500. Axon, with a market capitalization of $15.6B, is moving up to replace First Republic Bank ( FRC ), which was placed into FDIC receivership and isn't eligible for index inclusion anymore.
- The moves are effective prior to the open of trading on Thursday, May 4 .
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STAG jumps 7% on move to MidCap 400; AXON to S&P 500 to replace First Republic