DoorDash, MongoDB and Splunk will join the Nasdaq 100 index, with Zoom Video Communications, Enphase Energy and eBay among those exiting, the Nasdaq stock exchange announced Friday night.
Along with DASH stock, MongoDB and Splunk, CDW Corp., Coca-Cola Europacific Partners and Roper Technologies will be added to the Nasdaq 100 before the open on Dec. 18 as part of an annual rebalancing.
In addition to ZM stock, Enphase Energy and eBay, the Nasdaq 100 will remove JD.com, Align Technology and Lucid Group.
SPLK stock is joining the Nasdaq 100, but perhaps not for long. Dow Jones giant Cisco Systems is buying the database and cybersecurity software maker.
DASH stock and CDW rose slightly while MongoDB advanced solidly. The other three incoming Nasdaq 100 stocks were up fractionally. Zoom Video and Align fell slightly, JD.com and LCID stock declined modestly, while Enphase edged higher.
Many large index funds, notably the Invesco QQQ Trust ETF with $220 billion in assets, track the Nasdaq 100 and must buy shares of all its index's components. Many actively managed funds that benchmark their performance vs. the Nasdaq 100 also will buy stocks.
However, the money tracking or benchmarked against the Nasdaq 100 pales compared to the funds tied to the S&P 500 index.
Also, the incoming Nasdaq 100 entrants and exits aren't much of a surprise. The Nasdaq 100 includes the nonfinancial companies on the Nasdaq exchange.
On Dec. 1, S&P Dow Jones Indices announced that Uber Technologies, Jabil and Builders FirstSource will join the S&P 500 index, also before the open on Dec. 18. They'll replace Sealed Air, Alaska Air Group and Enphase rival SolarEdge Technologies as part of a quarterly rebalance for the S&P indexes.
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