Chewy Up 5% on S&P MidCap 400 Inclusion

By Josh Beckerman

Chewy shares were up 5% to $28.59 after hours as the company was selected to join the S&P MidCap 400.

S&P Dow Jones Indices said Friday that Chewy will join the index Nov. 6, replacing Stericycle, which is being sold to Waste Management.

Chewy has been popular with meme-stock investors. The company was founded by Ryan Cohen, who is GameStop's chief executive. Influential investor Keith Gill, also known as "Roaring Kitty," recently reported in a securities filing that he no longer owns a stake in the online pet-products retailer.

Write to Josh Beckerman at josh.beckerman@wsj.com