MP Materials Set to Join S&P MidCap 400
MP Materials Corp. (NYSE: MP) will join the S&P MidCap 400 index effective July 27, 2022, as part of a change following the acquisition of Sanderson Farms Inc. (NASDAQ: SAFM) by Cargill and Continental Grain. This addition highlights MP's growing significance in the materials sector. Sanderson Farms will be removed from the index, impacting its stock listings. Such index inclusions typically provide increased visibility and can positively influence stock performance due to heightened investor interest.
- MP Materials will be added to the S&P MidCap 400, boosting visibility.
- Index inclusion may attract more investors and enhance stock liquidity.
- Sanderson Farms' removal from the S&P MidCap 400 may negatively impact its stock performance.
NEW YORK, July 22, 2022 /PRNewswire/ -- MP Materials Corp. (NYSE:MP) will replace Sanderson Farms Inc. (NASD:SAFM) in the S&P MidCap 400 effective prior to the opening of trading on Wednesday, July 27. Cargill and Continental Grain acquired Sanderson Farms in a deal that closed today.
Following is a summary of the change that will take place prior to the open of trading on the effective date:
Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector |
July 27, 2022 | S&P MidCap 400 | Addition | MP Materials | MP | Materials |
S&P MidCap 400 | Deletion | Sanderson Farms | SAFM | Consumer Staples |
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