Michael Wursthorn
speaker
1,567 appearances
29 recordings
1 series
first heard Jul 2017
last heard Nov 2021
Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.
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Appearances
It changed CEOs.
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It's contemplating a breakup of its business.
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It cut its very highly coveted dividend.
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And all that, as those things were going on, investors were increasingly speculating whether or not this would mean the end for one of the oldest components that was still remaining in the Dow Jones Industrial Average.
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And what's interesting about it too is that it's a retail company and a lot of the focus that we've seen in the stock market has been around whether retail can survive the Amazon shift.
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I think Walgreens has done some interesting work in pivoting and trying to take advantage of the shift in healthcare behavior among consumers, just the shifting landscape and how consumers want to shop and interact.
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And with this addition, it's going to be interesting to sort of see how long it can maintain that position, considering that I think a lot of investors are still trying to figure out where does retail go from here.
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And Walgreens, while it has made some changes, it's got a lot of unanswered questions as to how does it continue as a company that's farther flung from what it originally was as this drugstore pharmacy provider.
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Can you explain that?
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As of June 19th, General Electric still had a bigger market cap than five other Dow constituents.
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And that includes, as you said, United Technology, Caterpillar, which is a big influencer in the Dow.
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But all that said, it doesn't really matter so much what the market cap is of these underlying companies.
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What matters more is the actual stock price.
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So you'll see in the Dow Jones Industrial Average, companies like Boeing and Caterpillar, their share prices trade fairly high, certainly higher than GE, which is, say, around $12 a share as of June 19th.
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They have a much bigger influence in the stock.
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So if Caterpillar were to gain $5, $6 a share, that immediately leads to at least a 30 to 45 point swing in the Dow Jones Industrial Average.
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GE might see a bigger percentage move, but because its share price is so much lower, it just doesn't have that same sort of effect over it overall.
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So while it's really interesting that GE still, you know, it's fallen a lot since those highs in 2000 when it was once the most valuable company in the U.S., and its market cap still is a fairly respectable size in the public stock market.
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That is fair to say.
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And the one thing I'd add, too, is that one of the reasons why you probably wouldn't see a massive change in the stock price because of an announcement like this is because the Dow Jones Industrial Average just doesn't see the same number of index funds that track it compared to the S&P 500.
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Showing 1141–1160 of 1,567 · page 58 of 79
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