Uber To Replace JetBlue Airways In Dow Jones Transportation Average, Effective Prior To Open Of Trading On February 26
Portfolio Pulse from Benzinga Newsdesk
Uber will replace JetBlue Airways in the Dow Jones Transportation Average effective before trading opens on February 26, due to JetBlue's low weight in the index resulting from its low share price.
February 20, 2024 | 10:25 pm
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POSITIVE IMPACT
Uber's inclusion in the Dow Jones Transportation Average could potentially increase its visibility and attractiveness to investors.
Being added to a major index like the Dow Jones Transportation Average generally results in increased demand for a stock as index funds and investors seeking exposure to the transportation sector may add the stock to their portfolios.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
JetBlue's removal from the Dow Jones Transportation Average could lead to decreased demand for its shares from index funds and sector-focused investors.
Removal from a major index like the Dow Jones Transportation Average can lead to a decrease in demand for a stock, as index funds and investors reallocate their portfolios away from the stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80