Why Okta Stock Barreled Higher Tuesday Morning
The identify verification and access management specialist is joining a prestigious stock index.
Shares of Okta (NASDAQ: OKTA) charged out of the gate Tuesday, gaining as much as 8.9%. As of 2:13 p.m. ET, the stock was still up 8.2%.
The catalyst that sent the cybersecurity specialist higher was word that its stock would be added to a premier index early next month.
In a press release that dropped after the market close yesterday, S&P Global announced that Okta would be added to the S&P MidCap 400 index prior to the start of trading on Thursday, May 1. The stock will be replacing Berry Global Group.
