The value of Dell and Palantir shares on Friday, September 6, during extended trading, showed an increase of about 7% in both cases amid reports that these companies will join the S&P 500 index.
It is currently known that Palantir will take the place of American Airlines. Dell will replace Etsy. The relevant information is contained in the official statement of S&P Global.
It is worth noting that the growth in the value of shares of companies added to the benchmark after it was announced is what can be called standard practice. The corresponding dynamic of securities is fixed because fund managers who track the index regularly update their portfolios to mirror changes.
Dell in this case returns to the benchmark index. It is worth noting that this company, specializing in the production of computers and servers, was a constituent in the period from 1996 to 2013. Eleven years ago, founder Michael Dell and private equity firm Silver Lake made Dell a private firm. The company went public again in 2018.
Also in the current year, Super Micro Computer joined the S&P 500 index. This company competes with Dell in the sales area of servers for artificial intelligence workloads. Before that, a record increase in the value of shares of this firm was recorded, against which the indicator of its market capitalization exceeded the $50 billion mark.
After more than 15 years as a venture-backed startup, Palantir, specializing in software platforms for big data analytics, went public in 2020 on the New York Stock Exchange. In the fourth quarter of 2022, this company started to post profits. In the second quarter of the current year, the net income of Palantir was fixed at $135.6 million. It is worth noting that a year earlier the corresponding figure was $27.9 million.
As we have reported earlier, Dell Shares Rise Amid Positive Earnings Report.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
