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S&P 500 Stocks Hanging By A Thread As Macy’s Is Booted Off

johnNjohnN
edited April 2020 in Other Investing
https://www.gurufocus.com/news/1094700/sp-500-stocks-hanging-by-a-thread-as-macys-is-booted-off

/S&P 500 Stocks Hanging By A Thread As Macy’s Is Booted Off
S&P Global Indices disclosed on April 1 that department store retail giant Macy’s (NYSE:M) “will be removed from the S&P 500 effective prior to the open of trading on Monday, April 6.” The company will be moved to the S&P 600 SmallCap Index instead, and it will be replaced by Carrier Global Corp. (NYSE:CARRW), an air conditioning company being spun off of United Technologies (UTX). According to S&P Global Indices, Macy’s no longer belongs on the S&P 500 because of its low market cap and low growth expectations./

Unbelievable. One of America's great brand name would no longer be in sp500

Comments

  • msf
    edited April 2020
    What I found surprising when I first saw the announcement was the size of the drop - Macy's was moved to the S&P 600, not the S&P 400 (midcap).
  • AnnaAnna
    Just another example of how I am out of my league at MFO. I always thought of "small cap" as "might someday be" not as "has been". As such, I never really educated myself.
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