December 2018 — Movements in the SMB Software Index
December saw the continued decline in markets that began in October. By the end of the month, the SMB Software Index was down 6.3%, compared to 9.2% for the S&P 500, 9% for the Nasdaq, and 9.5% for the Dow Jones.
Drivers of Movement
The SCP SMB Software Index is a weighted based on the market capitalization of the 33 companies that are included in the index. The market cap of the top 5 companies accounts for more than half of the total market cap combined index and therefore, the movement of these 5 companies influence the SMB Index as a whole.
The Top Gainers and Losers for December
The biggest gainer of the month by far was Mindbody, which added over 31% to its market cap during the period, driven by the announcement that it had entered into a definitive agreement to be acquired by Vista Equity Partners for $1.9 Billion. The biggest loser was Deluxe, which lost nearly a quarter of its market cap.
Here’s how all constituents stacked up in the month of December
You can follow the SurePath SMB Index in real time at: http://www.surepathcapital.com/smb-index
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