Why S&P Global Stock Beat the Market on Monday
The company participated in a fundraising round for a privately held peer.
Overview
It tends to be newsworthy when S&P Global (NYSE: SPGI) stock does far better than the high-profile equity index it manages.
On Monday, that was the dynamic following the financial information and analysis company's announcement of a new strategic investment. Market players clearly found it encouraging, and they traded S&P Global's stock up by nearly 2%, on a day when the S&P 500 index slumped by 0.5%.
Details
That morning, S&P Global announced it had made an equity investment in privately held Kaiko, considered by many to be the leading data and information company for cryptocurrencies and other digital financial assets. It was one participant in a funding round that included companies such as Coinbase Ventures and Nasdaq Ventures.
Source
Originally published at www.fool.com.