Why Vericel Stock Raced 13% Higher on Thursday
Vericel (NASDAQ: VCEL) was a big hit on an otherwise forgettable Thursday for the stock market, closing the day up more than 13%. This followed the news that the company has been tipped for inclusion in an important stock index.
Late Wednesday, S&P Dow Jones Indices announced that Vericel is to become a component of its S&P SmallCap 600 index. It replaces energy company QEP Resources, which is being acquired by Diamondback Energy. The switch takes effect before market open on Monday, March 22.
Vericel, whose MACI treats cartilage defects in the knee, is joining an important stock index. Image source: Getty Images.
Source Fool.com
