Duolingo will join the S&P MidCap 400 index, replacing Cable One, before the open on Monday, April 22, Dow Jones S&P Indices said late Wednesday. Cable One will replace M.D.C. Holdings in the S&P SmallCap 600 index.
Both Duolingo and Cable One rose overnight.
Duolingo is moving directly into the MidCap 400, which means a number of funds that track the index will have to own DUOL stock. Duolingo stock climbed 6% early Thursday signaling a move toward the 50-day moving average.
More funds track the S&P SmallCap 600, so CABO stock benefits from the demotion. Cable One rose 2.9% in late trading.
Japan's Sekisui House is set to close its takeover of homebuilder MDC.
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