Why Axcelis Technologies, Inc. Stock Gained 20.3% in October
Shares of Axcelis Technologies (NASDAQ: ACLS)) climbed 20.3% in October, according to data provided by S&P Global Market Intelligence. The big gains appear to correspond with news of the semiconductor equipment company's addition to the S&P Small Cap 600.
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On Oct. 11, it was announced that Axcelis Technologies would become a part of the S&P Small Cap 600, replacing Landeur. The move was made official before market open on Oct. 19. Axcelis' big gains correspond with those dates, and, in the absence of other significant news last month, it looks like the stock's October movement was closely related to joining S&P's small-cap index.
Source: Fool.com
