© Reuters. 4 Mid-Cap Stocks on the Verge of Becoming Large-Cap Stocks
Many mid-cap companies have witnessed a significant rise in their share prices and, consequently, market capitalization so far this year owing to renewed investor attention to growth stocks and bullish broader market sentiment. So, we think mid-Cap companies Manhattan Associates (NASDAQ:), DICK’S Sporting Goods (DKS), Playtika (PLTK), and AutoNation (NYSE:), each with market capitalizations of more than $8 billion, should enter the large-cap group soon. Read on for an explanation.Companies with a market capitalizations of more than $10 billion are classified as large-cap stocks. So far this year, the bullish stock markets and renewed investor focus on growth stocks have driven multiple mid-cap companies to significant increases in their market value. The S&P Midcap 400 index has gained 44.7% year-to-date, outperforming the 17.7% returns of the benchmark S&P 500 index, which represents large-cap stocks.
Given the impressive corporate earnings so far this year and surging reflation trades, mid-cap stocks are poised to hit fresh highs soon, increasing their market-caps to boot.
Fundamentally sound mid-cap stocks Manhattan Associates, Inc. (MANH), DICK’S Sporting Goods, Inc. (DKS), Playtika Holding Corp. (PLTK), and AutoNation, Inc. (AN), all of which currently possess a market capitalization of more than $8 billion, are expected to become large-cap stocks soon.
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