Lucid jumps 7% after being included in the Nasdaq 100. Here are the 6 stocks being added and removed from the tech index.
- Lucid stock jumped as much as 7% on Monday after it was announced the EV maker would join the Nasdaq 100.
- Six stocks are being added to and removed from the tech-heavy index on December 20.
- Airbnb and Palo Alto Networks are also joining the tech index, while Fox and Cerner are getting cut.
Shares of Lucid Group surged as much as 7% Monday after it was announced the EV maker would join the Nasdaq 100 later this month. But the stock reversed lower amid a sell-off in the broader market.
Prior to the open on December 20, Lucid and five other stocks will be added to the tech-heavy index in its annual reconstitution.
The Nasdaq 100 index is composed of the 100 largest non-financial companies listed on the Nasdaq stock market and dates back to January 1985 when it was launched along with the Nasdaq Financial 100 index. Both indexes are reconstituted each year in December.
The Nasdaq 100 is popular with investors who are looking for exposure to fast growing technology companies. Investors can gain access to the index through the Invesco QQQ Trust, which aims to provide investment results that correspond with the performance of the Nasdaq 100.
These are the six companies being added to and removed from the index next week.
1. Airbnb
Ticker: ABNB
Market Capitalization: $114.9 billion
Index Change: Added
2. Fortinet
Ticker: FTNT
Market Capitalization: $56.2 billion
Index Change: Added
3. Palo Alto Networks
Ticker: PANW
Market Capitalization: $53.9 billion
Index Change: Added
4. Lucid Group
Ticker: LCID
Market Capitalization: $63.5 billion
Index Change: Added
5. Zscaler
Ticker: ZS
Market Capitalization: $45.4 billion
Index Change: Added
6. Datadog
Ticker: DDOG
Market Capitalization: $56.2 billion
Index Change: Added
7. CDW Corporation
Ticker: CDW
Market Capitalization: $26.7 billion
Index Change: Removed
8. Fox Corporation
Ticker: FOXA / FOX
Market Capitalization: $20.1 billion
Index Change: Removed
9. Cerner Corporation
Ticker: CERN
Market Capitalization: $21.9 billion
Index Change: Removed
10. Check Point Software
Ticker: CHKP
Market Capitalization: $14.9 billion
Index Change: Removed
11. Trip.com Group
Ticker: TCOM
Market Capitalization: $18.7 billion
Index Change: Removed
12. Incyte Corporation
Ticker: INCY
Market Capitalization: $14.6 billion
Index Change: Removed
