Bloom Energy Corporation (NYSE:BE) shares are soaring Tuesday after S&P Dow Jones Indices announced after the market closed Friday that the company will join the S&P 500.
- Bloom Energy stock is charging ahead with explosive momentum. Why are BE shares rallying?
Inclusion In S&P 500
S&P Dow Jones Indices said Bloom Energy will be added to the S&P 500, replacing Molson Coors Beverage Company, effective prior to the open of trading on Monday, September 21, coinciding with the quarterly rebalance. Bloom Energy will be classified under the Industrials sector. The change was made to ensure the index remains more representative of its market capitalization range.
The same announcement included several other index changes taking effect on the same date, including Illumina joining the S&P 500 in place of Builders FirstSource, and Everpure replacing The Trade Desk. Dell Technologies, Palo Alto Networks, Arista Networks and Sandisk were also added to the S&P 100.
Bloom Energy Shares Jump
BE Price Action: At the time of publication, Bloom Energy shares are trading 6.89% higher at $270.30, according to data from Benzinga Pro.
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