Amazon.com To Replace Walgreens Boots Alliance In Dow Jones Industrial Average, Effective Prior To Open Of Trading On February 26
Portfolio Pulse from Benzinga Newsdesk
Amazon.com (AMZN) is set to replace Walgreens Boots Alliance (WBA) in the Dow Jones Industrial Average (DJIA) before trading opens on February 26. This change is a result of Walmart Inc. (WMT) executing a 3:1 stock split, which will decrease its weight in the price-weighted DJIA, although Walmart will continue to be a part of the index.
February 20, 2024 | 10:23 pm
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POSITIVE IMPACT
Amazon.com is joining the Dow Jones Industrial Average, replacing Walgreens Boots Alliance.
Being added to the DJIA is a prestigious event for any company, often leading to increased investor interest and potentially a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Walmart Inc. remains in the DJIA following a 3:1 stock split, which prompted the index change.
While the stock split reduces Walmart's weight in the DJIA, it remains part of the index. The direct impact on the stock price is neutral, as stock splits do not inherently change a company's market value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Walgreens Boots Alliance is being removed from the Dow Jones Industrial Average, with Amazon taking its place.
Being removed from the DJIA can lead to decreased visibility among investors and potentially a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90