Super Micro, Deckers stocks surge toward records on S&P 500 entrance

Super Micro, Deckers stocks surge toward records on S&P 500 entrance
By: market watch Posted On: March 04, 2024 View: 20

Data-server provider Super Micro Computer Inc. and footwear maker Deckers Outdoor Corp. will join the S&P 500 SPX stock index later this month, replacing Whirlpool Corp. and Zions Bancorporation, S&P Dow Jones Indices said late Friday.

Shares of Super Micro SMCI, +4.54% shot up 12.6% and of Deckers’ DECK, +0.86% stock surged 5.2% in premarket trading Monday, putting both on track to open in record territory.

Super Micro’s stock has rocketed 218.5% year to date through Friday, as it has been caught up in the artificial intelligence-Nvidia Corp. NVDA, +4.00% fervor, after soaring 246.2% in 2023.

Deckers’ stock has gained 35.1% this year after running up 67.5% in 2023.

Whirlpool WHR, -0.54% and Zions ZION, -1.67% will replace those two companies on the S&P MidCap 400 MID. Whirlpool shares have tumbled 23% over the past 12 months and Zion’s stock has dropped 21.3%.

The changes will take hold before the market’s opening bell on Monday, March 18.

“The changes ensure each index is more representative of its market capitalization range,” S&P Dow Jones Indices said.

“All companies being added to the S&P 500 are more representative of the large-cap market space,” it added, while “all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space.”

Super Micro ended Friday with a market capitalization of $50.65 billion and Deckers’ market cap was $23.19 billion, while Whirlpool’s market cap was $5.84 billion and Zions’ was $5.74 billion.

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