Marvell Technology shares jump 9% on S&P 500 index inclusion announcement
By
Sawdah Bhaimiya
13h ago· 2 min readenNews
80/100
Golden Brown
Bagelometer↗
Crisp on the outside, thoughtful on the inside. A keeper.
Score80TypenewsSentimentpositive
Summary
Marvell Technology shares surged nearly 9% in premarket trading after S&P Global announced the AI chipmaker will join the S&P 500 index on June 22. The semiconductor company, up 210% year-to-date, will be added alongside Flex, while Pool Corp and The Campbell's Company will be removed from the benchmark index.
Key quotes
· 3 pulledMarvell Technology was up almost 9% in premarket trading on Monday after it was announced that the AI chipmaker would be joining the benchmark S&P 500 index.
The semiconductor company, which trades on the Nasdaq, will join the broad-market index on June 22 and will sit alongside the 500 leading companies in the U.S., S&P Global said in a press release on Friday.
Marvell was last seen up 8.8% in premarket trading and is up 210% year-to-date.
Marvell rose in premarket trading after S&P Global said the AI chipmaker would join the S&P 500 on June 22.
