February 22, 2024

Brighton Journal

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DoorDash and MongoDB join Nasdaq 100; Enphase, zoom video between 6 exit arrows

DoorDash and MongoDB join Nasdaq 100;  Enphase, zoom video between 6 exit arrows

DoorDash (dash), MongoDB (MDB) And Splunk (SPLK) will join the Nasdaq 100 index, with Zoom video communications (ZM), Phase energy (nose) And eBay (eBay) are among those departing, the Nasdaq stock exchange announced Friday evening.




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Along with DASH, MongoDB, and Splunk stocks, CDW Company (CDW), Coca-Cola Europacific Partners (CCEP) And Roper techniques (Royal Oman Police) to the Nasdaq 100 before the open on December 18 as part of its annual rebalancing.

In addition to ZM, Enphase Energy and eBay stocks, the Nasdaq 100 will be removed JD.com (Jordanian dinar), Technology alignment (Algin) And Lucid Collection (LCD).

SPLK stock joins the Nasdaq 100, but perhaps not for long. Giant Dow Jones Cisco Systems (cisco) You purchase a database and cybersecurity software maker.

DASH and MongoDB stock were up slightly early Monday, while Zoom Video and Enphase were down modestly. JD.com and LCID stock fell strongly.

Several large index funds, particularly the Invesco QQQ Trust ETF (QQQ) With assets of $220 billion, you track the Nasdaq 100 index and should buy stocks with all components of its index. Many actively managed funds that measure their performance against the Nasdaq 100 will also buy shares.

However, funds tracking or benchmarking against the Nasdaq 100 pale in comparison to funds tied to the S&P 500.

The entry and exit of the Nasdaq 100 is also not a big surprise. The Nasdaq 100 includes non-financial companies on the Nasdaq Stock Exchange.

On December 1, the Standard & Poor’s Dow Jones Indices announced this Uber technologies (Uber), Byblos (JBL) And First Source Builders (Balder) will join the S&P 500, also before the open on December 18. He will replace them Air sealed (be seen), Alaska Air Group (Alec) and competitor Enphase SolarEdge technologies (SEDG) as part of the S&P’s quarterly rebalancing process.

See also  Stocks varied in Asia Pacific. Mainland China markets closed

Please follow Ed Carson on X/Twitter at @IBD_ECarsonTopics in @edcarson1971 And Bluesky V @edcarson.bsky.social For stock market updates and more.

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