Same thinking here, SKT in or out of Index doesn't really matter under current market dynamics at play
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Imagine if SKT was removed and cannasouth was added into NZX50. What a joke that would be.
Stock has been in the dumps for a while. Most funds would be underweight in this already. The $159m placement would have wiped most of them out. Any overhang would likely be absorbed. Just look at the price action today, most other companies in the red, Sky trading in the green. With such a small market cap it wouldn't take much to move it either way. If it does get dropped from the NZX50, which I hope it does, it would very much be a catalyst for a takeover. The company doing the takeover would make sure to highlight that in any proposal.
Anyway, it's likely the re-balance is delayed because of Covid. Lots of companies are reporting late this earning season.