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Why Amgen Stock Vaulted Higher Today

TheMotleyFool

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Why Amgen Stock Vaulted Higher TodayPhoto, wide shot, wide-angle lens, Janitorial service, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/4d4e885c-79e9-4b8f-bd91-e9721cd7c2e9.png

Shares of Amgen (NASDAQ: AMGN) were vaulting 5.9% higher as of 3:21 p.m. EDT on Tuesday. The nice jump came after the announcement that the stock would be added to the Dow Jones Industrial Average, replacing Pfizer.

There are two main reasons why investors cheered today's news for Amgen. One was more symbolic, while the other was quite practical.

Image source: Getty Images.

Source Fool.com

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