The ODP Corporation was removed from both the Russell 2000 Value-Defensive Index and the Russell 2000 Defensive Index. This change reflects a rebalancing of the indices by FTSE Russell.
Index removals can lead to adjustments in institutional portfolios, particularly for passive funds that track these indices. Such adjustments may result in selling pressure on the company's stock.
This development follows a previous announcement in March that ODP would be removed from the S&P SmallCap 600 index, indicating a broader reclassification of the company's market positioning by major index providers.
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