Shouldn’t values be adjusted to reflect stock splits?
That’s the purpose of it, as well as to account for companies added/dropped to the list. Unfortunately, over time, this has led to these overblown numbers.
They are afraid to just run the calculation as originally because they believe the new resulting DJIA would scare people and scramble the markets.
I don’t share that belief. I like reality. Nothing wrong with adding a footnote that says “DJIA dropped Widget Co and added Squeegie Co today.”