Shares of CoreWeave CRWV +0.14% , Nebius NBIS +4.98% , Rocket Lab RKLB +9.26% , Astera Labs ALAB +11.07% , and Teradyne TER +9.73% rallied in after-hours trading following news of their inclusion in the Nasdaq-100 Index (NDX).
Nasdaq NDAQ +0.02% announced the changes as part of its June quarterly rebalance. The five companies will be added to the index before the market opens on Monday, June 22.
The companies being removed from the index are Charter Communications CHTR +0.98% , Cognizant Technology CTSH -1.22% , Insmed Corp. INSM +5.27% , Verisk Analytics VRSK -0.62% , and Zscaler ZS +1.11% .
The NDX consists of 100 of the largest non-financial companies listed on the Nasdaq exchange. The index is reviewed and rebalanced quarterly to ensure its constituents continue to meet eligibility requirements.
Inclusion in the Nasdaq-100 can be beneficial for companies because the index is tracked by hundreds of investment products representing billions in assets under management worldwide. Index funds, exchange-traded funds (ETFs), and other passive investment vehicles that track the benchmark must purchase shares of newly added companies when they rebalance their portfolios.
As a result, stocks added to...
The Kristo Asafo Mission of Ghana has rejected claims that former Dome-Kwabenya Member of Parliament, Sarah Adwoa Safo, was shot during an incident at the church’s property at Kwabenya, describing...