BUZZ-Neobank Dave surges ahead of S&P SmallCap inclusion
Dave, Inc. Class A DAVE | 0.00 | |
American Woodmark AMWD | 0.00 | |
S&P Global, Inc. SPGI | 0.00 | |
MasterBrand Inc MBC | 0.00 | |
STKd 100% SMCI & 100% NVDA ETF SPCY | 0.00 |
** Neobank fintech platform Dave's DAVE.O shares up 7.2% at $274.80 in early Thurs trading as co poised to join S&P 600 SmallCap index .SPCY next week
** DAVE to replace American Woodmark AMWD.O in the SPCY effective on Mon, June 1, S&P Dow Jones Indices announced late Weds
** Cabinet manufacturers MasterBrand MBC.N and AMWD completed their $3.6 bln merger
** Stephens analyst Melissa Roberts said in a note she expects net passive demand for 1.5 mln DAVE shares, or 2.6 days of buying demand, based on stock's 3-month avg daily volume of 580,000 shares
** Los Angeles, California-based DAVE has ~12.8 mln shares outstanding for roughly $3.5 bln market cap
** All 11 brokerages rate the stock "strong buy" or "buy"; median PT $341, per LSEG data
** Stock has now surged 58% QTD, putting it up 24% YTD