Posted 3/4/2024, 10:25:31 AM
Super Micro Surges on S&P 500 Addition, Palantir Drops on Exclusion
- Palantir stock dropped 4% premarket while Super Micro surged 12% due to S&P 500 index inclusion/exclusion
- Super Micro was added to the S&P 500 but Palantir was excluded from it
- Inclusion in S&P 500 benefits stocks as index funds must buy them to maintain weightings
- Increased trading volume and liquidity from index funds further bolsters included stocks
- Palantir fell to $23.90 premarket while Super Micro jumped to $1,012.99