Nutanix (NTNX) Jumps as Firm Joins S&P Club

We recently published 10 Stocks With Eye-Popping Gains; 7 Soar to Fresh Highs. Nutanix Inc. (NASDAQ:NTNX) is one of the top performers on Monday.

Shares of Nutanix grew by 7.24 percent on Monday to close at $74.98 apiece as investors cheered its official inclusion in an S&P index effective by the end of the month.

Late on Friday, the S&P Dow Jones Indices announced that Nutanix Inc. (NASDAQ:NTNX)—an enterprise cloud computing company—is set to become a component of the S&P MidCap 400 index beginning September 22, replacing Acadia Healthcare Company. The change forms part of a regular quarterly rebalancing.

Joining the S&P MidCap 400 is a huge boost to Nutanix Inc. (NASDAQ:NTNX) as it gets further exposure to institutional investors and hedge funds tracking the S&P MidCap 400, while they unload positions in Acadia Healthcare.

In other news, Nutanix Inc. (NASDAQ:NTNX) participated in the Goldman Sachs Communacopia + Technology Conference on Monday.

In the second quarter of the year, Nutanix Inc. (NASDAQ:NTNX) swung to a net loss of $126 million from a $38.65 million net income in the same period last year. Total revenues dropped by 16 percent to $547.9 million from $653.27 million year-on-year.

While we acknowledge the potential of NTNX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.