Amazon Replacing Walgreens In Dow Jones Industrial Might Not Be A Great Thing: 'Will History Repeat Itself?'

Amazon Inc. AMZN is set to join the Dow Jones Industrial Average (DJIA), a move that may not be as favorable for the company as it appears.

What Happened: During CNBC’s Last Call, host Brian Sullivan expressed that Amazon replacing  Walgreens Boots Alliance Inc. WBA in the DJIA before the market opens on Feb. 26 might not be positive news for Amazon.

Sullivan compared Amazon with other Magnificent 7 stocks like Microsoft and Apple, who, after joining DJIA, experienced a flat stock situation for several years before spiking.

For Apple, the first two years after joining DJIA was “dead money” while Microsoft saw a flat stock for almost 15 years on the index.

“Will history repeat itself for Amazon?” Sullivan raised the question.

See Also: Bitcoin, Ethereum, Dogecoin Trade Mixed Amid Soaring Demand For BTC ETFs: Analyst Forecasts King Crypto Surge To $600K By 2025, Matching 300 Ounces Of Gold

Why It Matters: Amazon’s shares traded higher in Tuesday's after-hours session following the announcement of its inclusion in the DJIA.

S&P Dow Jones Indices stated that Amazon’s inclusion will increase consumer retail exposure and other business areas in the DJIA, reflecting the evolving nature of the American economy.

Read Next: Bitcoin’s Bright Future: Hedge Fund Veteran Mark Yusko Foresees $150,000 Peak

Photo by Sundry Photography on Shutterstock


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Posted In: Analyst ColorEquitiesNewsMarketsAnalyst RatingsGeneralAmazonBrian SullivanCNBC Last CallPooja RajkumariStories That MatterWalgreens
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