LCI - Why Lannett Flopped on Friday
On Friday, investors were refusing the pill that is generic-drug specialist Lannett (NYSE: LCI) . The company's shares took a painful hit, sinking by 13% after the company got the toss from a high-profile stock index.
After market close Thursday S&P Dow Jones Indices, the company responsible for the closely followed S&P suite of securities indexes , announced a set of adjustments to three of its stock indicators. Unfortunately for Lannett, as a result of these changes, its stock will no longer be a component of the S&P SmallCap 600 index.
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Why Lannett Flopped on Friday