I've read online that Apple's stock split is somehow the cause of Exxon's exit from the Dow Jones Industrial Average, but I fail to see how this works. If it's merely a reflection of the 30 largest market cap stocks, then how does the split of Company A nudge out Company B?
Even if the split increases the market cap of Apple (by a larger relative share price), it doesn't knock anyone out, unless #31 or below makes a large move.
So what gives?
Submitted August 25, 2020 at 09:10PM by musteatbrainz https://ift.tt/32tluf1
