Business
Why Webjet (ASX:WEB) got kicked out of ASX All Tech index – The Motley Fool Australia
The online travel agency will no longer be in the group of elite Australian technology companies. Did it shrink, or was it another reason?
Webjet Limited (ASX: WEB) will be removed from the S&P ASX All Technology Index (ASX: XTX) on 22 March.
This means that a business with a $2.1 billion market capitalisation will be missing from the most prominent index of Australian technology companies.
Webjet has been a success story in the local tech scene. The online travel agency was founded in 1998 then reverse listed on the ASX two years later.
The Webjet share price hovered around the 10 cent mark in mid-2005. But it spiked up to about $3.50…
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