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Technology Stocks : Impinj, Inc.
PI 179.24-4.4%2:47 PM EST
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From: Savant9/9/2024 3:48:47 PM
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Shares of RFID manufacturer Impinj (NASDAQ:PI) jumped 11% in the morning session after the S&P Dow Jones Indices announced that the company would be added to the S&P SmallCap 600 index before the opening of trading on Monday, September 23, 2024. Being included in the index means that Impinj will likely be held by many mutual funds and ETFs, which could potentially drive up demand for the stock.

We note that while buying of the stock could increase, this development does not change the fundamentals of the company. Revenue growth, expense efficiency, and capital intensity of the business, for instance, are not impacted by index inclusion or exclusion, so this is more of a technical tailwind for the stock.
Impinj (PI) Stock Trades Up, Here Is Why (stockstory.org)
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