Palantir, MicroStrategy and Axon Enterprise be a part of the Nasdaq 100

Palantir (PLTR), MicroStrategy (MSTR) and Axon Enterprise (AXONE) are prepared to affix the Nasdaq 100 Index on Monday, December 23, changing Tremendous Micro Pc (SMCI), Trendy (mRNA), and Illumina (ILMN), as a part of a reconstruction of the index.

It was a giant week for the Nasdaq 100, which surpassed level 20,000 for the first time ever Wednesday, as tech shares soar following inflation knowledge reinforcing expectations of a rate cut by the Federal Reserve subsequent week.

The Nasdaq 100, which accommodates the 100 largest non-financial sector firms within the Nasdaq Composite Index, is reconstituted yearly in December and rebalanced quarterly to weight its elements based mostly on market capitalization.

The Dow Jones and S&P 500 additionally just lately introduced modifications to their membership. Apollo World Administration (APO) and dealing day (DAY)are ready to join the S&P 500 later this month, changing Qorvo (QRVO) and catfish (AMTM).

Final month, artificial intelligence (AI) honey Nvidia (NVDA) joins the Dow Jones Industrial Averagechanging the well-known chip maker Intel (INTC). Paint producer Sherwin-Williams (SHW) additionally joined the index, changing chemical big Dow (DOW).

Palantir shares have soared this yr on rising demand for its AI choices. Its inclusion within the Nasdaq 100 additionally follows a strategic transfer to Nasdaq from the New York Inventory Trade final month to grow to be eligible.

MicroStrategy shares surged with the worth of Bitcoin (BTCUSD) the day after the re-election of Donald Trump, the president-elect claiming to wish to make america the “crypto capital of the planet“.

Choice to drop Tremendous Micro Pc comes as server maker faces drawback February deadline to file its annual report late, beneath penalty of delisting by Nasdaq.

The inventory has seen a unstable few months, rocked by considerations over allegations of accounting manipulation and overdue disclosures, with the inventory solidly in detrimental territory for the yr just some weeks in the past, earlier than recouping these losses on final month. By Friday’s shut, the inventory was up almost 30% this yr, though properly wanting 2024 highs.

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