The Globe and Mail reports in its Wednesday edition that AltaCorp Capital analyst Chris Murray says because of its shrinking share price Hudson's Bay Co. may lose its spot on the S&P/TSX Composite Index. The Globe's David Milstead writes that the index does a "reconstitution" every quarter to remove companies that have become too small and add companies that have grown in value. Mr. Murray says potential new composite members include Hexo, Canntrust Holdings and the Green Organic Dutchman Holdings, which would double the number of cannabis companies in the 239-member composite. (Canopy Growth, Aurora Cannabis and Aphria are already members.) With the growth of index funds and other passive investing strategies, whether a stock is in or out of a major index can have a meaningful impact on share prices, says Mr. Murray, because many fund managers who track an index need to hold shares in the companies. He says, "Index inclusion has been an important factor in total return for stocks in the last decade." That is bad news for HBC, which has seen its value erode as investors have lost faith in the company's turnaround effort. Late Tuesday, HBC said president Alison Coville is stepping down, effective Friday.