GameStop to join S&P MidCap 400 index next week

Lakeland Financial

27/07/2021 22:48

July 27 (Reuters) - S&P Dow Jones Indices said on Tuesday
GameStop  GME.N , one of the hottest and most visible 'meme
stocks', will join the S&P MidCap 400 index next week. 
    GameStop's shares have surged more than nine fold this year,
helped by a social media hype and was the spark in January for a
battle casting hedge fund short-sellers against a pack of
small-time investors organizing online.
    The company, currently a part of S&P SmallCap 600, will
replace Weingarten Realty Investors  WRI.N  in the S&P MidCap
400. Lakeland Financial Corp  LKFN.O  will take GameStop's place
in the S&P SmallCap 600.
    GameStop, like others meme stocks that have lit up Wall
Street since January, has sold millions of dollars in new stock.
    The company is trying to pivot to e-commerce and recently
hired a former Amazon official as its new chief executive
officer to steer it through the transition.    

 (Reporting by Arathy S Nair in Bengaluru; Editing by Shinjini
Ganguli)
 ((arathys.nair@thomsonreuters.com; +1 646 223 8780 (Extn 2726);
Twitter: https://twitter.com/ArathySom;))