Yahoo Finance Live’s Julie Hyman breaks down the surge in stock for Bunge.
JULIE HYMAN: We are looking at one trending ticker today. That is Bunge, the crop company. The shares are surging by 14%. Guess what? It is going into the S&P 500. It's gonna replace Signature Bank, the bank that, of course, was closed by the federal government this weekend. The bank that was crypto-oriented.
And so when you see this happen, if there are index funds, if there are ETFs that track the S&P, guess what? They got at Bunge. And that's what it looks like investors are doing ahead of that happening today. It's effective, it looks like, prior to the open of trading tomorrow so that's why you see all this movement in the stock today.