Equity Indices - Look back at what happened b4Guys,
CGG was added to S&P/TSX Small Cap Index on 17th September 2010. Look at the share price move that followed as index funds who were obligated to own it and are not price sensitive got their weightings up. We are seeing the reverse now as CGG is removed from those indices. No story here except an opportunity to trade around perhaps. The trouble with companies of this size/nature is that there is often insufficient liquidity relative to the market cap. An average days volume in CGG amounts to nothing...about 0.10% of the company's value.
Cheers