The UK-based company, which floated on the London Stock Exchange in 2018, has announced that it will be added as a constituent of the FTSE 250 Index, effective after market close on March 20. As Rolling Stone points out, Hipgnosis’ stock price largely withstood wider market turmoil last week, staying steady despite the FTSE 100 seeing 11% of its value knocked off due to concerns over the global outbreak of coronavirus.
Source: Merck Mercuriadis’ Hipgnosis added to FTSE 250 Index, as stock withstands coronavirus pressures