GameStop Replacing Dow Jones in S&P 500 (GME, NWS, DJ)
December 5, 2007 by Douglas A. McIntyreGameStop Corp. (NYSE:GME) has been paid quite a nice complement today. It has been selected to replace Dow Jones (NYSE:DJ) in the beloved S&P 500 Index after the close on a date TBA. The pending News Corp. (NYSE:NWS) buyout of Dow Jones is expected to close before the end of this month according to our sources at Dow Jones and News Corp., although we have heard too many date approximations to hang our hat on. But we would expect GameStop to make the index change before the year-end.
GameStop was already a member of the S&P Mid Cap 400 Index. As of the close at a $57.90 close it had a $9.3 Billion market cap. Shares are now trading up 3.8% at $60.10 in after-hours trading and the stock has traded as low as $24.95 and as high as $60.80 over the last 52-weeks.
We have an update going out soon in the video game sector for our Special Situation Investing Newsletter subscribers.
Jon C. Ogg
December 5, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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