Duolingo's stock jumps 6% on news it is joining S&P MidCap 400

By Jon Swartz

Duolingo Inc.'s stock popped 6% in extended trading Wednesday following news it is joining the S&P MidCap 400.

As part of the corporate reshuffling, Duolingo (DUOL) will replace Cable One Inc. (CABO), which, in turn, will supplant MDC Holdings Inc. (MDC) in the S&P SmallCap 600. The moves are effective April 22, S&P Global said on Wednesday.

Sekisui House Ltd. (JP:1928) is acquiring MDC Holdings in a transaction expected to be completed on April 19, pending final conditions.

Duolingo offers courses on music, math and more than 40 languages, including English, French and Spanish.

Earlier this month, spinoffs GE Vernova Inc. (GEV) and Solventum Corp. (SOLV) joined the S&P 500 index SPX.

GE Vernova is a renewable-power-generation company that resulted from the split of General Electric Co. into GE Aerospace (GE) and GE Vernova. Solventum was splintered from 3M's (MMM) healthcare business.

-Jon Swartz

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04-17-24 1818ET

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