Meta Platforms will return to its former status as a full growth stock after financial data provider FTSE Russell finishes its annual shakeup of its stock index components on Friday.
This refresh forces many fund managers to adjust their portfolios to reflect the new weightings and components. The methodical nature of the reconstitution process, which began in late April this year, also creates additional demand for buying and selling stocks. Some investors may use the additional liquidity to take advantage of price dislocations that may result, especially before the reconstitution is completed at week's end.
One of the bigger changes this year will be Facebook owner Meta Platforms, which has surged nearly 70% since last year's reconstitution. It will once again be considered 100% growth after a brief detour last year with a heavy value shift. Stocks can be partially in both growth and value indexes based on Russell's criteria on characteristics including earnings growth and valuation. Meta is currently 84% value and 16% growth, according to Goldman.
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