First Solar (NASDAQ:FSLR) stock is rising higher on Tuesday as investors prepare for a potential major catalyst coming on Dec. 19.
That’s when the solar power company will join the S&P 500. This will see it replacing Fortune Brands Home & Security (NYSE:FBHS) on the index. At that same time, FBHS shares will take FSLR stock’s place on the S&P MidCap 400.
The reason for this change is Fortune Brands Home & Security spinning off its MasterBrand (NYSE:MBC) business. This is set to happen on Dec. 15. This sees it rebranding as Fortune Brands Innovations. It will also have MasterBrand joining the S&P SmallCap 600, replacing Conn’s (NASDAQ:CONN).
What’s Next for FSLR Stock?
Considering the news of the S&P 500 change being announced today, investors may not see the largest jump when Dec. 19 rolls around. However, they’ll still want to keep an eye on the company’s shares in case of an unexpected rise in value as it joins the index.
If that happens, investors might see heavy trading of FSLR stock. That isn’t happening today with only 886,000 shares on the move as of this writing. For comparison, the company’s daily average trading volume is about 2.9 million shares.
FLSR stock is up 4% as of Tuesday morning and is up 76.4% since the start of the year.
Investors looking for more of the most recent stock market news will want to keep reading!
InvestorPlace is home to all of the most recent stock news traders need to know about on Tuesday! A few examples include what has shares of Boeing (NYSE:BA) and Moderna (NASDAQ:MRNA) stock moving, as well as this morning’s biggest pre-market stock movers. You can find all of that news at the links below!
More Tuesday Stock Market News
- United Airlines Just Bought 100 Boeing Dreamliners. BA Stock Is Rising.
- Moderna (MRNA) Stock Soars on Cancer Vaccine News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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.
