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Chesapeake Energy's stock (CHK) is getting an upgrade--at least in reputation and stature. Beginning today, CHK will join the S&P MidCap 400 stock index, replacing Mercury Systems Inc. (MRCY). The announcement was made last Wednesday after the close of the financial markets. Traders liked the news and immediately bid up shares of CHK in after-market trading. Chessy's stock price is up 3.5% over the past five days. It seems the company has finally gotten its fiscal house in order after years of mountainous debt that led to bankruptcy in June of 2020 (see Chesapeake Files for Bankruptcy – Debtors to Take Ownership).
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