Videogame retailer GameStop has earned a listing on the S&P 500 stock market index list.
Standard and Poor’s announced yesterday that videogame store chain GameStop (GME) will be replacing newspaper publisher Dow Jones on the S&P 500 stock market index at a future date. Dow Jones is being pulled off the list due to its acquisition by Ruper Murdoch’s News Corp. The spot left by GameStop in the lesser-known S&P MidCap 400 will be filled by aircraft part manufacturer BE Aerospace.
Shares of GameStop closed today at $59.65, up 3.02 percent from its opening price of $58.91. With a market capitalization of merely $9.6 billion, GameStop is one of the smaller, but more unique companies on the S&P 500 index.