Amazon Inc. (NASDAQ: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. (NASDAQ: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.
Amazon is set to replace Walgreens in the Dow Jones Industrial Average next week. If history is any indication, that might not be good news for