Corsair Gaming (NASDAQ:CRSR) stock is on the move today on news it’s joining the S&P SmallCap 600.
S&P Dow Jones Indices revealed as much in a press release yesterday. According to that release, the change is happening due to Old National Bancorp (NASDAQ:ONB) acquiring First Midwest Bancorp (NASDAQ:FMBI). This will see Old National Bancorp bumped up to the S&P MidCap 400.
Old National Bancorp will take over Urban Edge Properties’ (NYSE:UE) place on the S&P MidCap 400. That will drop UE stock to the S&P SmallCap 600. However, the delisting of FMBI will leave an additional space for another company. That’s where Corsair Gaming comes into play.
The acquisition deal between Old National Bancorp and First Midwest Bancorp is expected to close today. This has the S&P Dow Jones Indices planning to add CRSR stock to the S&P SmallCap 600 before trading starts on Friday.
With all that out of the way, here’s a few things for investors to know about Corsair Gaming!
- Corsair Gaming is a technology company that offers a collection of products in the PC gaming market.
- That includes pre-built computers, PC parts, as well as PC gaming accessories.
- The company also has several products available for players on video game consoles.
- Examples of brands under the Corsair Gaming umbrella include Elgato, Origin PC, Scuf Gaming, and Gamer Sensei.
- Corsair Gaming has been around since 1994 when it operated as Corsair Microsystems.
- The company’s headquarters is based in Fremont, Calif.
- Investors taking an interest in CRSR stock will note the company doesn’t pay out a dividend.
- Its current market capitalization is sitting at $2.237 billion.
CRSR stock is up 9.7% as of Wednesday morning.
There’s more stock market news that traders will want to know about below!
InvetorPlace houses all of the latest stock news with our daily coverage of the space! A few examples include the earnings news affecting shares of Roblox (NYSE:RBLX) stock, Upstart (NASDAQ:UPST) stock, and Shopify (NYSE:SHOP) stock today. You can get all those details from the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
