Selling PressureThere is a lot of mention of MM's and shorters putting downward pressure on the stock price, but something else seems to have gone by without any discussions or considerations. As posted here at the beginning of the month, the S&P Dow Jones Indices were to make the following changes in the S&P/TSX Composite Index prior to the open of trading on Mon dec 19, 2022.
Deleted - Corus Entertainment Inc B Nvtg (TSX:CJR.B).
Correct me if I'm wrong, this means all ETF's that mirror the index need to liquidate their Corus shares because Corus has been dropped from the index. Questions: is there a timeframe this liquidation generally takes place within? Any idea as to how many index funds this involves? Any idea how many shares need to be sold off?
I believe even if Corus shares become eligible for inclusion in the index again, it takes something like 12 months before it can be re-instated.
Thoughts?