Why Waystar Stock Blasted Nearly 10% Higher on Monday

Core Insights - Waystar's shares surged nearly 10% following the announcement of its inclusion in the S&P SmallCap 600 index, contrasting with the S&P 500's modest increase of 0.2% [1][2][4] Group 1: Company Developments - Waystar is one of 10 companies selected to "graduate" to the S&P SmallCap 600 as part of S&P Global's quarterly index realignment [4] - The inclusion of Waystar in the index is expected to increase demand for its shares due to the popularity of index funds [6] Group 2: Market Context - The adjustment to the S&P SmallCap 600 resulted in the removal of several companies, including Jack in the Box and Xerox Holdings, indicating a shift in market composition [5]