Why Coherus BioSciences Stock Was Plunging This Week
Live by the index, die by the index -- being included in a well-known collection of stocks can really help a company's visibility and boost investor morale. The opposite effect can kick in if it gets kicked out of an index.
Unfortunately for shareholders of Coherus BioSciences (NASDAQ: CHRS), that's what happened to their company after market hours last Friday. Following that, its stock price was falling by 10% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence.
Late that day, S Dow Jones Indices -- operator of the high-profile indexes that bear the S name -- effected its typical quarterly rebalance of several indexes. These changes will involve the S SmallCap 600 index, the group of stocks that formerly included Coherus.
Source Fool.com
