Amazon will join the Dow Jones Industrial Index, which brings together 30 of the largest companies in the United States. In this change, Amazon will replace the titles of the Walgreens Boots Alliance pharmacy chain, which had joined Wall Street’s most popular select in 2018.

The decision to include Amazon in the Dow Jones index is due to the ‘split’ made by the retail giant Walmart, which divided the value of its shares by three, thus reducing its weight in the selective.

The index’s manager, S&P Dow Jones Indices, explained that this addition reflects the changing nature of the U.S. economy. In addition, being a price-weighted index, stocks with higher prices have a greater weight in the selectivity.

On the other hand, Uber Technologies will also replace JetBlue Airways on the Dow Jones Transportation Index, the oldest stock exchange index still in use. The aim is to increase exposure to the travel-sharing industry, given the low price of JetBlue shares in the index.

Amazon’s inclusion in the Dow Jones coincides with the recent sale of 50 million shares of the e-commerce giant by its founder, Jeff Bezos, in exchange for $8.523 million. This transaction took place between February 15 and 20, according to the records of the United States Securities and Exchange Commission (SEC).

K. Tovar

Source: The Independent

(Reference image source: ANIRUDH, Unsplash)

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