Instacart Is Joining the S&P MidCap 400. Its Stock Is Rising.

Key TakeawaysInstacart's stock rose on the news that it would join the S&P MidCap 400 index. The change, set for next week, will pair with the removal of Enovis, which is moving to the SmallCap 600. Instacart's stock has about doubled over the past 12 months. Shares of Instacart rose Wednesday on the news that the food-delivery stock will join a new index.  Instacart's stock was recently up about 4.5%. The rise followed the announcement last yesterday that the company, also known as Maplebear (CART), will ...