- The stock price of Cars.com Inc (NYSE: CARS) increased by over 7% pre-market today. This is why it happened.
The stock price of Cars.com Inc (NYSE: CARS) increased by over 7% pre-market today. Investors are responding positively to the S&P Dow Jones Indices making some changes to theS&P SmallCap 600 effective prior to the opening of trading on Thursday, December 2.
Cars.com will replace DSP Group in the S&P SmallCap 600. S&P MidCap 400 constituent Synaptics is buying DSP Group in a deal expected to be completed on December 2.
By Cars.com joining the S&P SmallCap 600, a number of passive funds would buy up millions of the shares of the company depending on the relative market cap to the portfolios.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.