tagged w/ S&P 500
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Health insurance stocks took a dive Tuesday, with the S&P Health Care Sector index becoming the worst-performing segment of the S&P 500, largely because of health insurance companies.
That followed a public declaration of war by the health insurance industry's lobbying arm against the White House's health care reform efforts.Health insurance stocks took a dive Tuesday, with the S&P Health Care Sector index... more
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In fact, $10 would get you 10 shares of online broker E*Trade (ETFC.O: Quote, Profile, Research, Stock Buzz), now the cheapest stock in the index at 98 cents a share. At the other end of this low-ball spectrum you can get a small slice of the garbage business with a share of Allied Waste (AW.N: Quote, Profile, Research, Stock Buzz) at $9.90.
In between lies a raft of household names, many formerly held up as blue chips, including Citigroup (C.N: Quote, Profile, Research, Stock Buzz) ($6.40), Alcoa (AA.N: Quote, Profile, Research, Stock Buzz) ($8.16), Xerox (XRX.N: Quote, Profile, Research, Stock Buzz) ($5.58), Motorola (MOT.N: Quote, Profile, Research, Stock Buzz) ($3.44), Starbucks (SBUX.O: Quote, Profile, Research, Stock Buzz) ($7.97) and Yahoo (YHOO.O: Quote, Profile, Research, Stock Buzz) ($9.14), not to mention beleaguered automakers Ford Motor (F.N: Quote, Profile, Research, Stock Buzz) ($1.26) and General Motors (GM.N: Quote, Profile, Research, Stock Buzz) ($2.79).
In all, the group makes up the greatest number of sub-$10 stocks in the index in at least 28 years, said Howard Silverblatt, senior index analyst at Standard & Poor's.
So far this year, the S&P 500 has plunged 45 percent. It is now worth just over $7 trillion, the index's lowest collective market value in 11 years.
Twenty-five stocks, or five percent of the index, don't make the $1 billion mark in market cap, and just 11 exceed the $100 billion level.
In fact, a third of the entire index is not even qualified to be in the index -- 186 stocks have market caps under $4 billion, the minimum value for consideration for S&P 500 membership.In fact, $10 would get you 10 shares of online broker E*Trade (ETFC.O: Quote, Profile,... more
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bshipp
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added this
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3 years ago
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