Why Builders FirstSource Stock Just Popped 10%

Shares of construction supplies company Builders FirstSource (NASDAQ: BLDR) are booming this morning, up a solid 10% through 10:10 a.m. EDT, on news that the company's stock will be added to the S&P MidCap 400 index of companies.  

This isn't an award for exceptional performance per se -- and membership in the stock index isn't something that Builders FirstSource actively sought -- but neither is it an unearned participation award.

Image source: Getty Images.

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Source Fool.com