What happened Shares of the insurance platform SelectQuote (NYSE: SLQT) rose more than 11% today after it was announced that the company would join the S&P SmallCap 600 Index. So what The S&P SmallCap 600 covers U.S. small-cap stocks with market capitalizations ranging from $700 million to $3.2 billion at the time the company is added to the index. SelectQuote currently has a market cap of roughly $3.5 billion, although that's after its recent bump today. Stocks tend to appreciate when they are added to an index because funds that track the index must now buy the stock. Also, being added to an index results in greater visibility for the stock. Image source: Getty Images. Now what SelectQuote has struggled to gain much traction since going public in May of 2020, with shares currently down more than 18% from the day the company listed. However, whether on a three- or nine-month basis for the period ended March 31, profits are growing in terms of diluted earnings per share. Additionally, revenue is up tremendously under both time periods as well. The company did revise its net income range downward for the full year at the end of the first quarter, but the revision was small and solely done so the company can continue to invest in growth, so this looks like an opportune time to buy the stock. 10 stocks we like better than SelectQuote, Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and SelectQuote, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source