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Here’s why the Life360 (ASX:360) share price is leaping 12% today

Here’s what’s driving the software company’s stock on Wednesday.
The post Here’s why the Life360 (ASX:360) share price is leaping 12% today appeared first on The Motley Fool Australia. –

It’s a good day on the ASX for the Life360 Inc (ASX: 360) share price after news broke that, if all goes to plan, the company will be added to the S&P/ASX 200 Index (ASX: XJO) this month.

Interestingly, the reason behind the location technology company’s expected inclusion is entirely out of its control.

At the time of writing, the Life360 share price is $11.54, 11.71% higher than its previous close.

Let’s take a closer look at the news driving the software development company’s stock higher today.

Here’s why the Life360 share price is surging on Wednesday

The Life360 share price is surging on news the company will benefit from the merger of energy giants Santos Ltd (ASX: STO) and Oil Search Ltd (ASX: OSH).

S&P Dow Jones Indices announced Life360 will be taking the place of Oil Search on the ASX 200 when (and if) the planned merger is finalised.

Oil Search shareholders gave the merger the go-ahead yesterday. More than 95% of those who voted were in favour of the transaction.

Additionally, Santos announced the merger has been given the green light by the Independent Consumer and Competition Commission of Papua New Guinea this morning.

There are still some conditions the transaction must clear before Life360 is given its place among the ASX giants. One is PNG court approval. However, it’s looking promising.

S&P Dow Jones Indices is preparing to remove Oil Search from the ASX 200 on 13 December. That’s also when it’s expected to be delisted.

If Life360 is admitted to the index as planned, it will be one of its smaller members. Though, the company has grown significantly this year.

Right now, the Life360 share price is 203% higher than it was at the start of 2021.

The post Here’s why the Life360 (ASX:360) share price is leaping 12% today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Life360 right now?

Before you consider Life360, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Life360 wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why Life360, Oil Search, Telix, and Zip shares are storming higher

5 things to watch on the ASX 200 on Wednesday

10 ASX shares to buy in 2022

Why multiple experts are HOT on this ASX tech share right now

Why is the Life360 (ASX:360) share price climbing today?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Life360, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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