Dallas, Texas – Vistra, an electric and power generation company, is set to join the S&P 500 index before the opening bell on Wednesday, according to S&P Dow Jones Indices. This transition comes as Pioneer Natural Resources is being acquired by Exxon Mobil, leading Vistra to take its place in the index.
The move of Vistra stock to the S&P 500 reflects its significant growth in the industry, with shares rising by 4.2% on Friday night, reaching a stunning 112% increase so far in 2024. The surge in data centers’ power needs due to the AI boom has contributed to Vistra’s success, with the company expected to report its Q1 earnings on Wednesday morning.
On the other hand, Marathon Digital, a bitcoin miner, will be demoted to the S&P SmallCap 600 index, while AAON, a heating and AC company, will move up to the S&P MidCap 400 index. This shift reflects the dynamic nature of the market and the different factors influencing stock movements.
Marathon Digital saw a 4.85% increase in stock price late Friday, while AAON experienced a 3% decrease. The change in indexes for these companies will have implications for the funds that track them, as seen by the reaction in their stock prices following the announcement.
As Vistra prepares to enter the S&P 500, investors will be watching closely to see how this transition impacts the company’s performance. The reshuffling of indexes highlights the ongoing changes in the market, influenced by various industry trends and corporate developments. This move underscores the importance of adaptability and innovation in the competitive landscape of the stock market.