Diamonds and Dogs

11/4/24

Chewy (CHWY) jumps 8% on then announcement they will be joining the S&P MidCap 400 index replacing Stericycle which was bought out by Waste Management. The move could cause many mutual funds to add to the position to their portfolio. Chewy also has a high short position which could also cause some shorts to cover.

Dow Inc (DOW) is leaving the Dow Jones. The chemical company and stock is down over 2% as it gets kicked out of the Dow Jones to be replaced by Sherwin Williams. Intel is down over 2% as well is it gets replaced by Nvidia in the Dow Jones. Management at Dow Jones said the moves are to better reflect business segments.

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