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Why PriceSmart Stock Jumped 20% Today

TheMotleyFool

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With its share price down nearly 30% over the 12 months ending last week, PriceSmart (NASDAQ: PSMT) shareholders have been "smarting" all year long -- but this morning, a miracle happened. All of a sudden, PriceSmart stock skyrocketed more than $12 a share to close the day up 20%.

Why? Turns out, today was the day that S&P Dow Jones Indices added PriceSmart stock to its S&P SmallCap 600 index.

Image source: Getty Images.

Source Fool.com

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