DigitalOcean Shares Surge On Russell 1000 Index Inclusion

DigitalOcean Holdings Inc (NYSE: DOCN ) shares are trading higher Tuesday afternoon as the company has been added to the Russell 1000 Index, with the rally also tracking a risk-on tape. DigitalOcean Holdings shares are climbing with conviction. Why are DOCN shares rallying? Why DigitalOcean’s Russell 1000 Inclusion Matters DigitalOcean said it has been added to the Russell 1000 Index, moving up from the Russell 2000, as part of FTSE Russell’s semi-annual reconstitution, with the change effective after the U.S. market close. The company framed the shift as reflecting its growing scale, durable business model and consistent execution. DigitalOcean’s "graduation" fits a broader reshuffle for which 43 stocks are moving from the Russell 2000 into the Russell 1000 in what’s being framed as one of the largest rebalances in history. That matters for DigitalOcean because index reconstitu...