Yesterday, shareholders approved an acquisition that will move Tiffany under the umbrella of European luxury retailer LVMH Moet Hennessy Louis Vuitton . The open slot in the S&P 500 index will be filled by solar technology company Enphase Energy (NASDAQ: ENPH) .
That started a chain reaction that also affected the positions of Celsius Holdings (NASDAQ: CELH) , e.l.f. Beauty (NYSE: ELF) , and Capri Holdings (NYSE: CPRI) . After an initial spike of more than 6%, Enphase stock settled to a gain of just over 1%, as of 11:10 a.m. EST. Shares of Celsius were still up 12% after its initial spike, and e.l.f. Beauty shares rose 7%, while Capri shares didn't react as much and were down 3.6%.
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Why These 4 Stocks Moved Today