Marvell Technology Inc.
(NASDAQ:MRVL) stock jumped nearly 9% in Monday premarket trading after S&P Dow Jones Indices announced the chipmaker will join the S&P 500, a move that could spur fresh buying from index-tracking funds.
The stock rose 8.85% to $286.80 before the opening bell, while broader markets also pointed higher.
Nasdaq futures gained 1.31%, and S&P 500 futures climbed 0.68%, supporting risk appetite across technology stocks.
S&P 500 Inclusion Drives Marvell Stock Higher S&P Dow Jones Indices said Marvell and Flex Ltd.
