Bombardier, Once a Canadian Champion, Kicked Out Two TSX Indices
Bombardier removed from both the S&P/TSX 60 index, as well as the composite
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May 12, 2020 - by Jay Lutz for thedeepdive.ca
- Removed from both the S&P/TSX 60 index, as well as the composite
- Stock has lost almost all value after 20-year slide from peak
My how the might have fallen. The S&P Dow Jones Indices this evening announced the latest changes to the S&P/TSX Composite Index, and chief among the changes is the dropping of both Hexo Corp (TSX: HEXO) and Bombardier Class B Shares (TSX: BBD.b) shares.
As many are aware, the S&P/TSX Composite Index is the headline index for the Canadian markets, akin to the S&P500 for US based markets. In terms of the composite, firms must have a minimum average price of $1.00 over the previous three months, and over the last three trading days of the month end before the rebalance among other qualifications. Comparatively, the S&P TSX 60 consists of the sixty largest firms listed on the TSX.
With respect to Bombardier, it was the only firm to be removed from both the S&P/TSX 60 index, as well as the composite. The firms fall from grace has...
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