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The Key Takeaways
- Palantir MicroStrategy and Axon enterprise are expected to be added to the Nasdaq 100 Index Monday, December 23.
- Nasdaq announced Friday that they will be replacing Super Micro Computer (SMC), Moderna and Illumina as part of a yearly reconstitution of its index.
- The Nasdaq 100 had a great week, topping the 20,000 mark for the very first time on Wednesday.
As part of a re-constitution of the Nasdaq 100 Index, Super Micro Computers (SMCI), Modernas (MRNA) and Illuminas (ILMN) will be replaced by Palantir Enterprises (AXON), MicroStrategy Enterprises (MSTR) and Axon on December 23, the Nasdaq reported Friday.
As inflation figures reinforced the expectation of an interest rate reduction by the Federal Reserve, the Nasdaq 100 enjoyed a strong week. It topped 20,000 for the first ever time Wednesday.
Nasdaq 100, the 100 biggest non-financial companies included in the Nasdaq Composite Index are reconstituted each year by December. They are then rebalanced every quarter to weigh their constituents according to market capitalization.
The Dow and S&P 500 also recently announced changes to their members. Apollo Global Management (APO) and Workday (WDAY)are set to join the S&P 500 later this month, replacing Qorvo (QRVO) and Amentum (AMTM).
Nvidia (NVDA), a pioneer in the field of artificial intelligence, joined Dow Jones Industrial Average (DJIA) last month. The chip giant Intel (INTC) was replaced by Nvidia. Sherwin-Williams joined the Dow Jones Industrial Average in place of Dow Chemical (DOW).
Palantir, MicroStrategy's Inclusion Follows Recent Gains
Palantir stock is soaring this year due to the growing demand for AI products. The Nasdaq 100’s addition to Palantir follows the strategic shift to Nasdaq, from the New York Stock Exchange.
MicroStrategy’s shares have increased along with Bitcoin (BTCUSD) since Donald Trump was re-elected. Trump has stated that he will make the U.S. a global leader. “crypto capital of the planet.”
Super Micro computer faces key deadline for listing to be avoided
Super Micro Computer’s decision to delist is made as it faces a deadline in February for its annual report.
Stocks have been volatile in recent months. Concerns about accounting manipulations and late disclosures pushed the stock into negative territory just weeks ago. It recovered these losses over the last month. Through Friday’s close, the stock was up nearly 30% this year—though well off 2024 highs.
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