Okta Shares Rise 4% Premarket as It Joins S&P MidCap 400 Replacing Berry Global Before May 1

Okta, Inc. is set to join the S&P MidCap 400 index, replacing Berry Global Group. The change will take effect before the market opens on May 1. Berry Global is being acquired by Amcor, a constituent of the S&P 500, with the deal expected to close soon. Following the announcement, Okta's shares rose approximately 4.1% to 5% in premarket and after-hours trading. Okta has been recognized as a leading cybersecurity identity company, maintaining strong technical performance, including holding the 200-day exponential moving average after a strong earnings report. Meanwhile, Zscaler and other cybersecurity firms such as CrowdStrike, Fortinet, and Palo Alto Networks have also shown positive momentum in the sector.