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Index inclusion typically prompts passive funds to buy the stock, lifting its price near the rebalance. LEG's removal could create selling pressure, but TENB's addition likely dominates short-term moves given TENB's market cap and liquidity; similar past rebalances show moderate, often transient gains for entrants.
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Tenable Holdings will replace Leggett & Platt in the S&P SmallCap 600, effective before the opening on Aug 31, as LEG is acquired by Somnigroup International. The change could lift TENB via index-driven demand from passive funds, while LEG may face selling pressure amid the acquisition timeline, potentially altering short-term liquidity for both names.
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