First Advantage Jumps 6% After S&P SmallCap 600 Inclusion Replaces Kennedy-Wilson
Updated
Updated · The Motley Fool · Jun 12
First Advantage Jumps 6% After S&P SmallCap 600 Inclusion Replaces Kennedy-Wilson
3 articles · Updated · The Motley Fool · Jun 12
Summary
First Advantage shares rose nearly 6% Friday after S&P Global said the employment-verification company will join the S&P SmallCap 600 before the June 16 market open.
The move replaces Kennedy-Wilson Holdings, which is leaving the index because it is being acquired.
Index additions often lift stocks by drawing buying from index funds and increasing visibility among investors, helping First Advantage outperform the S&P 500's 0.5% gain that day.
The inclusion adds momentum to a company that has recently posted double-digit growth in key first-quarter metrics while promoting AI-enhanced screening and verification services.