3 Big-Time Stocks That Will Never Join the Dow
The Dow Jones Industrial Average (DJINDICES: ^DJI) is arguably the most iconic and recognizable investment index in the world. It's rich with history -- it was first published back in May 1896 -- and has grown in size from its all-time low of 28.48 on Aug. 8, 1896 to nearly 26,500 as of today. For those of you keeping score at home, that's an annualized return of about 5.7% since inception.
We've also witnessed growth in the scope of the Dow. When it was first calculated, the Dow contained just 12 companies. However, in October 1916, the Dow was expanded to 20 companies, with an additional expansion to 30 companies implemented in October 1928. Today, the Dow Jones Industrial Average continues to have 30 representative components, all of which are multinational companies from a variety of industries and sectors.
It's also worth noting that, over the years, there have been more than 50 changes made to the Dow, with companies entering and exiting based on the decision of S&P Dow Jones Indices.
Source Fool.com
