Here's Why Cars.com Stock Is Bucking the Trend Today
Shares of automotive marketplace platform Cars.com (NYSE: CARS) are bucking the trend in the markets today. While the Dow Jones Industrial Average is dropping almost 1,000 points, or 2.75%, Cars.com stock is soaring. As of 11:39 a.m. ET, Cars.com shares were trading near highs of the day, up just over 19%.
The surge in shares comes on the first trading day after it was announced that Cars.com stock will be added to the S&P SmallCap 600 index. That change won't occur until Dec. 2, but a move into an index will cause some mutual and exchange-traded index funds to buy the shares. That has other investors jumping in ahead of them today.
Source Fool.com
