Alphabet Inc Class CAlphabet added to Dow Jones Industrial Average, increasing index fund demand and visibility.
The Dow Jones Industrial Average replaced Verizon Communications with Google parent Alphabet today, marking the 54th change in the index's history. Alphabet's Class A shares, priced at $345.29, become the sixth most influential component in the price-weighted index, while Verizon's $45.68 share price gave it just 0.5% weighting. The committee also signaled that Nike, whose share price fell below $42, is at risk of removal after a five-year decline linked to its direct-to-consumer strategy and weak China sales.
Alphabet Inc Class CAlphabet added to Dow Jones Industrial Average, increasing index fund demand and visibility.
NVIDIA Corporation
Verizon Communications IncVerizon removed from Dow Jones Industrial Average, reducing index inclusion and passive demand.
Nike IncNike at risk of Dow removal due to weak China sales and direct-to-consumer strategy struggles.