Another one really nicely called by Janaghan Jeyakumar @smartkarma. He called for investors to buy Gremz (3150 JP) at ¥1609 or better due to the tachiaigai bunbai event in third week of September. That was <¥1600.
Locally it is sometimes referred to as the "Nikkei Dow" because it is price-weighted, like the Dow Jones Industrial Average.
Started many decades ago, the index was started by taking 225 stocks, adding up all the prices, and then
dividing by a DIVISOR to get to the index level on Day 1.
A stock's weight was price divided by the sum.
When one stock is taken out and replaced with another, you change the divisor on that day to make it the same as it would have been had the stock going out remained in.
All this was fine until Japan changed its Companies Act and decided that when a new company was formed, each share had a par value of ¥500 rather than the longtime value of ¥50.
That meant when a stock listed, it had fewer shares outstanding but a higher price. That meant the