Every December, Nasdaq, which operates the Nasdaq exchange and exchanges in the United States and Europe, updates its key Nasdaq-100 index.
The index, established in 1985, comprises 100 of the largest non-financial companies listed on the Nasdaq stock market, with the key variable being the market capitalizations of the stocks that comprise it.
Don't miss the move – SIGN UP for TheStreet's FREE daily newsletter
The index, which is up 29.4% in 2024 (after a 53.8% gain in 2023), has a large following because its members include all the major technology stocks, including Apple. (AAPL) NVIDIA (NVDA) microsoft (MSFT) amazon.com (AMZN) Metaplatforms (GOAL) Google main alphabet (GOOGLE) and (GOOGLE) and tesla (TSLA) .
Related: Analyst Who Correctly Said Apple Stock Would Rebound Updates Outlook
Three stocks will be added to the index before the market opens on Monday, December 23. All three have seen huge gains so far in 2024 and have one of the largest market capitalizations of companies that are not members of the Nasdaq-100.
New stars join the Nasdaq 100 index
Join the index:
Palantir (PLT) the Denver company that specializes in big data analytics software. Co-founded by Alex Karp, Peter Thiel and others.
Its original clients were the US government, but it has expanded to work with corporate and other clients. Its product Palantir Gotham is an intelligence and defense tool used by the military and counterterrorism analysts.
Related: Here's What a Veteran Trader Who Predicted Palantir Stock's Rally Is Saying Now
- Market capitalization: $173.3 billion.
- Share price on December 13: $76.07, up 3.9% on the day.
- Variation so far this year: 343%.
Microstrategy (MSTR) Headquartered in suburban Washington, DC, it specializes in business intelligence, mobile software, and cloud-based services.
It is also well known as a bitcoin substitute due to its huge cryptocurrency holdings. As of Friday, according to BitBO.IO, the company had invested $23.4 billion buying 423,650 bitcoins. Average price per bitcoin: $58,219. Current value of holdings: $43.1 billion.
- Market capitalization: $97.9 billion.
- Share price on December 13: $408.67, up 4.2% on the day.
- Variation so far this year: 547%.
Axon Company (AAXN) the Scottsdale, Arizona company that develops technology and weapons for military, law enforcement and civilians. Its best-known product is the Taser, the electronic shock system.
- Market capitalization: $49.2 billion.
- Share price on December 13: $644.91, up 1.3% on the day.
- Variation so far this year: 149.7%.
The trio leaving the Nasdaq-100 index
These three stocks are being removed from the index, but are still listed on Nasdaq.
glow up (ILMN) the San Diego-based developer of genetic research products.
- Market capitalization: $22.8 billion.
- Share price on December 13: $143.87, up 1.75% on the day.
- Variation so far this year: 6.22%.
More Wall Street analysts:
- Top analysts reveal their S&P 500 forecasts for 2025
- Analysts revise MicroStrategy stock price target amid bitcoin rally
- Google analysts are scared by the surprising news of the breakup
super microcomputer (SMCI) the maker of very high-end computers used to process artificial intelligence data. The company's share price has been affected by continuing concerns about the quality of its accounting and financial statements. Ernst & Young resigned as the company's auditor in October.
Related: Super Micro share price surges after key ruling
- Market capitalization: $21.3 billion.
- Share price on December 13: $36.45, up 3.9% on the day.
- Variation so far this year: -73.1%
Modern (mRNA) the developer of drugs used to help prevent the Covid-19 virus. The company's sales have fallen as the pandemic eased.
- Market capitalization: $16.1 billion.
- Share price on December 13: $41.83, up 2.3% on the day.
- Variation so far this year: -57.9%.
The Nasdaq-100 is the basis of the Invesco QQQ Trust QQQwhose objective is to produce results that reflect those of the index. Results are before expenses.
Nasdaq moves ahead of December 20 quadruple witching. Witchcraft is the simultaneous expiration of four financial contracts: stock options, stock index options, stock index futures, and individual stock futures.
Quadruple witching usually generates massive market activity in the last hour of the expiration date.
Related: The 10 Best Investing Books (According to stock market Professionals)
