FBM - Why STAAR Surgical and Prestige Consumer Healthcare Stocks Jumped Today
Tuesday is shaping up to be a good day for shareholders of STAAR Surgical (NASDAQ: STAA) , which manufactures implantable lenses, and Prestige Consumer Healthcare (NYSE: PBH) , which markets over-the-counter (OTC) healthcare products. As of 1:30 p.m. EST today, STAAR Surgical stock was up by 14.7%, while Prestige Consumer's stock was up by 7.7%. The catalyst was recently announced changes to two market indexes involving both companies.
Starting on Jan. 29, STAAR Surgical will replace Prestige Consumer in the S&P MidCap 400 , an index that tracks 400 mid-cap companies in the U.S. equity market. It is one of the most widely followed mid-cap indexes, and eligibility requirements include a certain level of liquidity and financial viability. Meanwhile, on the same day, Prestige Consumer will take the place of Foundation Building Materials (NYSE: FBM) in the S&P SmallCap 600 .
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Why STAAR Surgical and Prestige Consumer Healthcare Stocks Jumped Today