Insulet jumps 8% as it moves to S&P 500 to fill SVB hole
DariaRen
- Stock in insulin delivery system maker Insulet (NASDAQ:PODD) is a key Friday-evening beneficiary of a bank failure - as it jumps 7.7% postmarket on word that it's joining the S&P 500.
- Insulet - with a market capitalization of $19.5B at week's end - is joining as the key S&P index bounces SVB Financial Group (SIVB), which is no longer eligible after being taken into FDIC receivership following Friday's collapse.
- Insulet is moving into the 500 effective prior to the open of trading on Wednesday, March 15.