JBL - This Electronics Manufacturing Stock Is About to Join the S&P 500. Here's Why It's a Big Deal.
2023-12-11 15:41:00 ET
The S&P 500 index is reshuffling its ranks to reflect a new mix of large American companies. As part of a complicated shuffle involving 10 different companies and three S&P indexes, electronics manufacturing veteran Jabil (NYSE: JBL) is rejoining the market-tracker index after a seven-year absence. With a market cap of $15.2 billion at the market close last Friday, Jabil will be approximately the 400th-largest component.
Here's what it means to Jabil and its various stakeholders as its stock rejoins the top-shelf S&P 500 index.
The inclusion of a stock in the S&P 500 often leads to a positive impact on its price. This is partly due to increased visibility and credibility. Some investors prefer stocks that are members of a respectable market index such as the S&P 500, and many fund managers are bound by index-specific requirements.
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This Electronics Manufacturing Stock Is About to Join the S&P 500. Here's Why It's a Big Deal.