More BLA shares should be coming onto the market soon when index funds unload because of its removal from the 300 index.
"SYDNEY, MARCH 8, 2019: S&P Dow Jones Indices announced today the changes in the S&P/ASX indices, effective at the open of trading on March 18, 2019. At this rebalance, the entire S&P/ASX index hierarchy is reviewed, including the All Ordinaries"
"S&P/ASX 300 Index – Effective at the Open on March 18, 2019"
"Removal BLA"
"if it adds a new company to its roster, all of those funds will have to buy shares of that stock, and all that buying can send the stock price up to some degree. Conversely, stocks removed from an index can see their prices fall. Typically, though, these spikes or drops are not long-lasting."
BLA Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
