From yahoo Tech Ticker
Heading into Friday's session, in which an early rally effort quickly faded, the S&P was down 49% year-to-date and on track for its worst year ever. Down 43% year to date, the Dow is heading for its second worst year in history, the WSJ reports, trailing only the 53% decline in 1931.
Heading into Friday's session:
- 115 S&P stocks were trading under $10
- 41 were trading under $5
- 204 were trading with a market cap of less than $4 billion
These are not the only criteria in the index, but S&P 500 companies typically have market caps above $4 billion and stock prices above $5. Furthermore, many institutional fund managers are prohibited from owning stocks that trade below $10 or $5, depending on the firm.