Mar 16, 2021 - Economy
New kids on the block: Penn National Gaming to join S&P 500
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The S&P will be getting riskier, as the index's owners announced on Friday they would add Penn National Gaming and Caesars Entertainment to the benchmark equity gauge along with NXP Semiconductors and Generac Holdings.
- Those companies will replace Xerox, Flowserve, SL Green Realty and Vontier, which will move to the S&P MidCap 400, with changes scheduled to happen before the start of trading on March 22.
Of note: Penn's stock has risen nearly 800% over the past year, joining Tesla as another new S&P entrant that skeptical market watchers have cautioned is displaying the tenants of a highly speculative asset.
