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UWMC - UWM Holdings stock pops after it's added to preliminary Russell lists
UWM Holdings Corporation Class A
UWM Holdings (UWMC), aka United Wholesale Mortgage, jumps 18% after the company announced via Twitter that it's in the preliminary list of IPO additions for the Russell 1000 and Russell 3000 indexes.Stocks added to popular stock indexes see their liquidity increase a price bump up because passive index funds and ETFs based on those indexes are required to acquire those stocks.