In a major reshuffle in S&P 500, Facebook, Twitter and Google will leave the tech sector to be reclassified under a new "communication services" sector. This puts them in the same sector as the trio of regulated telecoms AT&T, Verizon and CenturyLink. Disney, Netflix, and Comcast are also joining this newly created sector, among some more names.
I'm curious to know people's thoughts on this reshuffle - is it warranted? I can't seem to find a truly satisfying reason anywhere, except that the telecom sector housed only 3 companies earlier and murmurs of this being a precursor to future regulation of Facebook and Co. Neither of these reasons seem concrete enough.
Also curious if all the ETF rebalancing that is now occurring because of this - does it create any short term trading opportunities? Got no intention to trade on it but merely curious.
For those of you who work in equities/mutual funds/ETF's etc, any on the ground impact or other less obvious, less discussed implications of this reshuffle?
Hey Bateman Begins, I'm here to break the silence...any of these links help you?:
No promises, but thought I'd mention a few relevant users that work in the industry: StompinGrass Tom-B @jrr2ok"
If those topics were completely useless, don't blame me, blame my programmers...
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