The Dow Jones Industrial Average Will Change Forever on June 29, With Verizon Getting the Boot and a Virtual Monopoly Joining the Index
Verizon's 22-year run in the iconic Dow is ending, with a trillion-dollar company that's an artificial intelligence (AI) applications leader taking its place.
The Dow Jones Industrial Average Will Change Forever on June 29, With Verizon Getting the Boot and a Virtual Monopoly Joining the Index
Overview
Last month, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI) celebrated its 130th birthday. Since its official inception on May 26, 1896, the Dow has undergone more than 50 adjustments. What was a 12-stock, industrial-focused index in the late 19th century is now composed of 30 diverse, multinational businesses.
On June 29, before trading commences, another major change will be made. Telecom titan Verizon Communications (NYSE: VZ) will be removed from the Dow, with virtual monopoly and trillion-dollar club member Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) taking its place. Specifically, Alphabet's Class A shares (GOOGL) will join the index.
Image source: Getty Images.
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Originally published at www.fool.com.
