ELF Beauty Stock Just Got A Promotion. Here’s Why It’s Falling.
ELF Beauty (ELF) will join the S&P MidCap 400 index, replacing Spirit Realty Capital (SRC), S&P Dow Jones Indices announced Wednesday night. Coal miner Peabody Energy Corp. (BTU) will replace ELF stock in the S&P SmallCap 600 index.
2024 Consumer Electronics Show with show attendee and IBD Executive Editor of Multimedia, Alissa Coram. We break down the changing landscape of the CES show floor and what the new normal of artificial intelligence means for investors.” vid-name=”How CES 2024 Made Clear The AI Arms Race For Businesses Is On” vid-cat=”Industry Insights” vid-date=”01/17/2024″ vid-date-tmsp=”1705488606″ vid-image=”https://www.investors.com/wp-content/uploads/2024/01/O2xjlfuS-640×360.jpg” vid-authors=”MEREDITH HEYMAN”>
X
ELF Beauty fell 5% early Thursday. BTU stock jumped more than 7%, rebounding above its 50-day moving average.
The changes will take place before the open on Jan. 23. Realty Income (O) is acquiring Spirit Realty around that date.
Why is ELF stock falling on the promotion? More mutual funds and ETFs track the S&P SmallCap 600 than the S&P MidCap 400.
ELF Beauty is on IBD Leaderboard.
Please follow Ed Carson on Threads at @edcarson1971, X/Twitter at @IBD_ECarson and Bluesky at @edcarson.bsky.social for stock market updates and more.
YOU MAY ALSO LIKE:
Catch The Next Big Winning Stock With MarketSmith
Best Growth Stocks To Buy And Watch
IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today
Read More: ELF Beauty Stock Just Got A Promotion. Here’s Why It’s Falling.