Which Stocks Could Join the Nasdaq 100? Palantir and MicroStrategy Lead the List
The annual adjustment of the $NASDAQ 100 Index (.NDX.US)$ components will be announced next Friday (December 13). According to the market capitalization ranking, in addition to the strong performers $Palantir (PLTR.US)$ and $MicroStrategy (MSTR.US)$, $Equinix Inc (EQIX.US)$, and $Coinbase (COIN.US)$ are also expected to become new members.
On the other hand, six companies, headed by $Moderna (MRNA.US)$, $Super Micro Computer (SMCI.US)$, $Biogen (BIIB.US)$, $CDW Corp (CDW.US)$, and $MongoDB (MDB.US)$, may face the fate of being directly removed from the list.
Note: The Nasdaq-100 Index comprises 100 of the largest and most innovative non-financial companies listed on the Nasdaq Stock Market based on market capitalization. $CME Group (CME.US)$, $Interactive Brokers (IBKR.US)$, and $Nasdaq (NDAQ.US)$ may not be added to the index.
$Palantir (PLTR.US)$ tops the list of stocks that could be added to the Nasdaq 100 during its annual reconstitution. This Colorado company transferred the listing of its Class A common stock to the Nasdaq from the New York Stock Exchange on Nov. 26.
Palantir Technologies stock was climbing Tuesday after the software company said it had secured authorization for its entire product suite to be used in processing sensitive federal workloads.
The cloud computing company said its entire suite of products and programs had been granted FedRAMP High Authorization. Palantir has worked with the government for years.
FedRAMP is a program that promotes the adoption of secure cloud services at the federal level. The authorization allows the U.S. government to process sensitive unclassified workloads using Palantir's cloud technology.
"Palantir is excited to accelerate our work with other technology partners -- big and small, government or commercial -- to enable their technology to be securely operated on behalf of USG missions," President and Chief Technology Officer Akash Jain said in a statement. Palantir has worked with the government for years.
Palantir closed last Friday at $67.08 with a market capitalization of $152 billion, making it the largest among the six potential candidates for Nasdaq 100 index inclusion.
$MicroStrategy (MSTR.US)$ ranks second in size among the companies that could be added to the Nasdaq 100 index. MicroStrategy closed last Friday at $387.47 with a market capitalization of $103 billion.
MicroStrategy’s entry into the Nasdaq 100 introduces Bitcoin exposure to passive investors, as the company holds nearly 2% of the Bitcoin supply.
Recently, Bernstein described MicroStrategy as a “Bitcoin magnet,” projecting it could hold 4% of the global Bitcoin supply by 2033. However, this strategy is not without risks, as some analysts caution about its long-term viability.
What’s more, another crypto-related stock, $Coinbase (COIN.US)$, could also be added to the Nasdaq 100 index. Coinbase closed last Friday at $296.20 with a market capitalization of $74.2 billion.
Regarding the current constituents of the Nasdaq 100, the six companies with the lowest market value are $Moderna (MRNA.US)$, $Super Micro Computer (SMCI.US)$, $Biogen (BIIB.US)$, $CDW Corp (CDW.US)$, and $MongoDB (MDB.US)$. Their market values range from $16.6 billion to $23.8 billion. Since their market cap represents less than 0.1% of the index weight, they may be directly removed during this adjustment.
Source: Barrons, Yahoo Finance, Benzinga
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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