Chewy Inc. is slated to join the S&P MidCap 400 index, with the change becoming effective prior to the opening of trading on Wednesday, November 6, 2024. The online pet retailer will replace Stericycle Inc. in the index.
Stericycle Inc. is being acquired by Waste Management Inc., an S&P 500 constituent, necessitating its removal from the MidCap 400. This inclusion for Chewy signifies its growing market capitalization and financial standing.
Joining a major index like the S&P MidCap 400 can enhance Chewy's liquidity and attract a broader base of institutional investors, as many funds track these benchmarks.
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