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Why Are Mimecast Shares Trading Higher Today?

Author: Anusuya Lahiri | August 25, 2021 11:36am

Mimecast Ltd (NASDAQ:MIME) shares traded higher by 6.67% at $66.83 on the last check Wednesday.
The cloud security and risk management services provider will replace Cinemark Holdings Inc (NYSE:CNK) in the S&P MidCap 400.
Cinemark Holdings will replace US Concrete Inc (NASDAQ:USCR) in the S&P SmallCap 600.
The changes will be effective before the opening of trading on August 30.
Mimecast reported a Q1 FY22 beat and a solid Q2 outlook earlier this month.