Lululemon Athletica (NASDAQ:LULU) stock is a hot topic among traders on Monday as the athletic apparel company prepares to join the S&P 500.
Lululemon is joining the S&P 500 due to Activision Blizzard being removed from the index. That removal is due to Microsoft (NASDAQ:MSFT) completing its acquisition of the video game publisher to beef up its own game offerings.
With the acquisition of Activision Blizzard by Microsoft, shares of ATVI stock are no longer trading on the public market. That explains why ATVI is no longer being included in the S&P 500. The change to the index will take place on Wednesday.
What This Means for LULU Stock
Lululemon Athletica joining the S&P 500 is likely going to act as a positive catalyst for LULU stock. We’re already seeing some of that movement today as the stock climbs 8.7% higher alongside the news. Investors may see another bump in the stock price when the change goes into effect on Wednesday.
LULU stock is also seeing heavy trading today with some 3 million shares on the move. That’s already well above its daily average trading volume of about 1.3 million shares. There might be more heavy trading when Wednesday comes around.
Investors that are looking for even more of the most recent stock market stories today are in the right place!
We are offering up all of the biggest stock market coverage that traders need to know about on Monday! A few examples include details concerning Rite Aid (NYSE:RAD) filing for bankruptcy, the potential for RAD to become the next meme stock and what’s happening with shares of Nxu (NASDAQ:NXU) stock today. You can catch up on all of these matters at the links below!
More Stock Market News for Monday
- RAD Stock Sinks as Rite Aid Files for Ch. 11 Bankruptcy
- RAD Stock: Is Rite Aid About to Become the Next Meme Stock?
- Why Is Nxu (NXU) Stock Down Today?
On the date of publication, William White did not hold (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.
