Goldman Sachs Group, Visa Inc. and Nike Inc. will replace Bank of America Corp., Hewlett-Packard Co. and Alcoa in the Dow Jones Industrial Average (DJIA) effective Monday September 23, a press release revealed on September 10.
The change was driven by the low stock prices of the companies slated for removal, and S&P Dow Jones Indices’ desire to diversify representation of the index.
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The three companies being removed accounted for just 3 percent of the total index, according to The Washington Post. For more details on the shake-up, read the full press release here.
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