On June 9, Flex Ltd. rose 3.31% in regular trading, trading at $155.035/share, with trading volume of $92.92 million.
On the news front, S&P Dow Jones Indices previously announced that Flex will officially join the S&P 500 index before market open on June 22, replacing Pool Corp. Inclusion in the S&P 500 means exposure to a significantly broader investor base, encompassing passive index-tracking funds and actively managed funds with index-constituent investment mandates. The anticipated passive capital allocation demand continues to propel the stock higher.
Additionally, the company recently announced a spin-off of its high-growth Cloud and Power Infrastructure (CPI) business into an independent publicly listed entity, focusing on AI data center critical power and thermal management technologies. The company's latest annual report showed revenue growth of 8.14% year-over-year and net income growth of 5.01% year-over-year. Solid fundamentals combined with multiple positive catalysts continue to support the stock's upward momentum.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)