Peloton is being added to the S&P SmallCap 600 index. S&P Dow Jones Indices announced the change this week, with the addition taking effect prior to the opening of trading on Wednesday, May 27, 2026.
Peloton (NASDAQ: PTON) will replace Enviri Corporation in the index. Enviri is being removed because it is spinning off certain operations into a new publicly traded company later this month, with the remaining parent entity set to be acquired by Veolia Environnement. Universal Technical Institute is also joining the S&P SmallCap 600 in the same rebalance, replacing Veris Residential. Both Peloton and Universal Technical Institute are classified under the Consumer Discretionary sector.
The S&P SmallCap 600 tracks small-cap U.S. companies, measuring a different slice of the market than the large-cap S&P 500 or the NASDAQ-100. Being added to an index can increase demand for a stock from index funds that track it, since those funds buy shares to mirror the index composition.
Peloton’s stock (PTON) has risen since the announcement, trading around $5.71 as of this writing, up roughly 10% over the past week. Stocks added to an index often see a bump between the announcement and the effective date as funds prepare to buy in, though it is difficult to attribute any single price move entirely to the index news
This marks another shift in Peloton’s standing among the major stock indices since the company went public in September 2019. Peloton was removed from the NASDAQ-100 in January 2022 after being added during the height of the pandemic-driven demand for its products in December 2020. The move to the SmallCap 600 reflects the company’s smaller market capitalization today compared to its pandemic-era peak.
You can read the full announcement in the S&P Dow Jones Indices press release.
What do you make of Peloton joining the S&P SmallCap 600?
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