Why These 4 Stocks Moved Today
Yesterday, shareholders approved an acquisition that will move Tiffany under the umbrella of European luxury retailer LVMH Moet Hennessy Louis Vuitton. The open slot in the S&P 500 index will be filled by solar technology company Enphase Energy (NASDAQ: ENPH).
That started a chain reaction that also affected the positions of Celsius Holdings (NASDAQ: CELH), e.l.f. Beauty (NYSE: ELF), and Capri Holdings (NYSE: CPRI). After an initial spike of more than 6%, Enphase stock settled to a gain of just over 1%, as of 11:10 a.m. EST. Shares of Celsius were still up 12% after its initial spike, and e.l.f. Beauty shares rose 7%, while Capri shares didn't react as much and were down 3.6%.
Source Fool.com
