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Why Cara Therapeutics Stock Is Soaring Higher Today

TheMotleyFool

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Why Cara Therapeutics Stock Is Soaring Higher Today

Shares of Cara Therapeutics (NASDAQ: CARA) were soaring 13.1% higher as of 10:45 a.m. EDT on Tuesday. The big gain came after S&P Global division S&P Dow Jones Indices announced that Cara will replace MTS Systems in the S&P SmallCap 600 index.

The nice jump for Cara today makes sense. S&P Dow Jones Indices' news means that any mutual funds or exchange-traded funds (ETFs) that track the S&P SmallCap 600 index will load up on shares of Cara Therapeutics.

Image source: Getty Images.

Source Fool.com

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