Newest SPX Additions Hit Record Highs

SMCI and DECK are both enjoying tailwinds from their SPX inclusion

Deputy Editor
Mar 4, 2024 at 10:56 AM
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Deckers Outdoor Corp (NYSE:DECK) and Super Micro Computer Inc (NASDAQ:SMCI) are both set to join the S&P 500 Index (SPX) later this month, replacing Whirlpool (WHR) and Zions Bancorporation (ZION). The news has the shares of both new faces on the rise this morning, with each hitting fresh record highs. 

At last glance, Deckers Outdoors stock was up 3.1% at $931.61, earlier hitting an all-time high of $939.82. Today's pop has the stock overcoming recent pressure at the $900 level as it heads for its fifth-straight daily gain. Since last February, the equity up 116.6%. 

Super Micro Computer stock is soaring today, last seen up 18.6% at $1,073.80, earlier notching a record peak of 1,096.92. Since the start of 2024, SMCI is already sporting a 277.5% gain as the artificial intelligence (AI) frenzy continues. 

It's worth noting that shorts have been building their positions on both stocks. Short interest represents 11.2% of SMCI's available float and 4.1% of DECK's available float. 

 

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