- Vistra (VST), an electric and power generation firm, is set to join the S&P 500 index, replacing Pioneer Natural Resources (PXD) which is being acquired by Exxon Mobil (XOM).
- Bitcoin miner Marathon Digital (MARA) will be added to the S&P SmallCap 600, while heating and AC company AAON (AAON) will move up to the S&P MidCap 400 index, taking the place of Vistra.
- Vistra’s stock has seen a significant increase, with shares soaring 116% in 2024 due to the increased power needs of data centers amidst the AI boom.
Vistra joins S&P 500 as shares soar amidst AI boom, while Marathon Digital and AAON also see changes in their S&P index placements.
Vistra Joins S&P 500
Vistra (VST), a leading electric and power generation firm, is set to join the S&P 500 index before Wednesday’s open, according to an announcement by S&P Dow Jones Indices on Friday. The move comes as Pioneer Natural Resources (PXD), the current occupant of the slot, is being acquired by Exxon Mobil (XOM). Vistra’s stock has seen a significant increase, hitting fresh all-time highs with a 2.15% rise to 83.24. The company’s shares have skyrocketed 116% so far in 2024, largely due to the increased power needs of data centers amidst the AI boom.
Marathon Digital and AAON Index Changes
Meanwhile, Bitcoin miner Marathon Digital (MARA) will be added to the S&P SmallCap 600. The company’s stock has also seen a significant increase, skyrocketing 18% to 20.68 back above its 50-day line. On the other hand, heating and AC company AAON (AAON) will move up to the S&P MidCap 400 index, taking the place of Vistra. However, AAON’s promotion may not be as beneficial as it seems, as fewer funds track the S&P MidCap 400 than the S&P SmallCap 600. AAON’s stock fell 2.8% to 76.20, and shares of the heating and A/C specialist plunged 13.7% on Friday following earnings.
Conclusion
The changes in the S&P index placements reflect the dynamic nature of the stock market and the impact of technological advancements on various sectors. As the AI boom continues to drive up power needs, companies like Vistra are likely to see further growth. Meanwhile, the inclusion of Marathon Digital in the S&P SmallCap 600 highlights the growing influence of cryptocurrency-related businesses in the financial market. Despite the dip in AAON’s shares, its move to the S&P MidCap 400 signals a positive outlook for the company’s future performance.
