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Amazon: stock soon to join Dow Jones index

( - Amazon will join the Dow Jones Industrial Average on Monday 26 February, index manager S&P Dow Jones Indices announced last night.

The Internet giant will replace US pharmacy chain Walgreens Boots Alliance, whose shares have fallen by nearly 15% since the start of the year.

Over the past 12 months, the healthcare group's share price has fallen by around 38%.

S&P Dow Jones Indices explains that these changes are intended to reflect the evolution of the US economy and the growing weight of retail within the business.

This decision also follows Walmart's recent decision to divide the par value of its shares by three, which will mechanically reduce the weight of the American distributor within the index.

As the fourth-largest US market capitalization behind Microsoft, Apple and Alphabet, Amazon has climbed 10% since the start of the year thanks to its membership of the 'Magnificent Seven' group of technology stocks most exposed to AI.

Up 76% over the past 12 months in New York, the stock is up just over 1% in pre-market trading today following this announcement.

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