FTSE Russell rebalances indices: FB, NFLX, and PYPL to enter value benchmarks
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At the close of trading on Thursday the FTSE Russell is set to rebalance its indices and will add and subtract specific companies from different stock benchmarks.
Popular names that are on the move are Meta Platforms (NASDAQ:META), Netflix (NASDAQ:NFLX), and PayPal Holdings (NASDAQ:PYPL) which will all be added to the Russell 1000 Value Index.
Some value investors may view the above tech names as high growth but due to the latest price drops of META, NFLX, and PYPL the three will now be listed as value according to the standards provided by FTSE Russell.
FTSE Russell states that value indices are occupied by stocks that display lower price-to-book ratios and lower expected growth values.
In 2022 prices of META, NFLX, and PYPL have come down 53.9%, 70%, and 62.6%, respectively.
Per the WSJ, the âFTSE Russell hasnât publicly released the full list of stocks that will be added or removed from its indexes, but Catherine Yoshimoto, director of product management for the Russell U.S. indexes, confirmed the individual stock moves.â
 In related company news, PayPal plans to adjust its Goods & Services payments fee structure in July.