Palantir, MicroStrategy and Axon Enterprise will join the Nasdaq 100

Palantir (PLT), MicroStrategy (MSTR) and Axon Enterprise (AXON) are ready to join the Nasdaq 100 Index on Monday, December 23, replacing Super Micro Computer (SMCI), Modern (mRNA) and Illumina (ILMN), as part of a reconstitution of the index.

It was a great week for the Nasdaq 100, which surpassed the 20,000 level for the first time in history Wednesday, as tech stocks soared on inflation data Reinforcing expectations of a rate cut. by the Federal Reserve next week.

The Nasdaq 100, which contains the 100 largest non-financial sector companies in the Nasdaq Composite Index, is reconstituted annually in December and rebalanced quarterly to weight its components in market capitalization.

The Dow and S&P 500 also recently announced changes to their membership. Apollo Global Management (APO) and working hours (Wednesday)are ready to join the S&P 500 later this month, replacing Qorvo (QRVO) and catfish (AMTM).

last month, artificial intelligence (AI) dear Nvidia (NVDA) joined the Dow Jones Industrial Averagereplacing the historic chip maker Intel (INTC). Paint manufacturer Sherwin-Williams (SHW) also joined the index, in place of chemical giant Dow (D.O.W.).

Palantir shares have soared this year thanks to growing demand for its artificial intelligence offerings. Its inclusion in the Nasdaq 100 also follows a strategic move to the Nasdaq from the New York Stock Exchange last month to become eligible.

MicroStrategy shares have risen along with the price of bitcoin (BTCUSD) after the re-election of Donald Trump, when the president-elect said he wants to make the United States the “crypto capital of the planet“.

The decision to abandon Super Micro Computer comes as the server maker faces a February deadline file its annual report late, or face delisting from the Nasdaq.

The stock has had a volatile few months, rocked by concerns over allegations of accounting manipulation and delinquent disclosures, with the stock solidly in negative territory for the year just a few weeks ago, before recouping those losses in the last month. Through Friday’s close, shares were up nearly 30% this year, although well below the 2024 highs.

Read the original article at investopedia