On Monday, April 22, Duolingo (DUOL) will be added to the S&P MidCap 400 index, replacing Cable One (CABO). The announcement was made by Dow Jones S&P Indices on Wednesday. As a result of this inclusion, various funds that track the index will need to add DUOL stock to their portfolios. This led to an increase in Duolingo’s stock value overnight by over 6%, indicating a movement towards the 50-day moving average.
Meanwhile, Cable One stands to benefit from being included in the S&P SmallCap 600 index, as more funds track this index. This led to a 2.9% increase in Cable One’s stock value during late trading.
In other news, Japan’s Sekisui House is on track to finalize its acquisition of homebuilder MDC.
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