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What you need to know
- Shares of Palantir slipped Monday, while MicroStrategy rose, on Friday's news that they will be added to the Nasdaq 100 index on Monday, Dec. 23, along with Axon Enterprise.
- This index is composed of the 100 biggest non-financial companies that are included in the Nasdaq Composite Index. It’s reconstituted every year.
- These additions replace Super Micro Computer (formerly Illumina), Moderna and Super Micro Computer.
Following the announcement late Friday that both companies would be joining the Nasdaq 100 Index the following week, shares of Palantir Technologies fell on Monday. MicroStrategy rose.
Axon Enterprise, Inc. (AXON), will be added to the index prior to trading opening on Wednesday Dec. 23. Nasdaq announced Friday that the trio would replace Super Micro Computers (SMCI), Modernas (MRNA) and Illuminas (ILMN).
Palantir, a software maker, dropped 4% on Monday. MicroStrategy, a major Bitcoin-holder rose 4%. Axon is a Taser manufacturer that has dropped by almost 2%. Supermicro dropped by nearly 7%. Moderna gained less than 1 percent, while Illumina gained 1.5 percentage points. MicroStrategy could also be trading at a higher price due to its most recent Bitcoin purchase.)
Nasdaq 100 includes the 100 biggest non-financial companies of the Nasdaq Composite Index. The index is reconstituted annually, in December.
Supermicro may be removed from Nasdaq if the company fails to submit its annual report on time by the February deadline. Bloomberg reports that the company has also engaged an advisory firm in order to raise capital.
Correction: Changes to the Nasdaq 100 are scheduled for December 23. In an earlier version, it was incorrectly stated that the changes took place today.
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