Shares of Palantir Technologies (PLTR) fell Monday, while MicroStrategy (MSTR) rose, following the late-Friday news that the companies will join the Nasdaq 100 Index next week.
The Nasdaq 100 has announced that Palantir Technologies Inc (NYSE:PLTR), MicroStrategy Incorporated (NASDAQ:MSTR) and Axon Enterprise Inc (NASDAQ:AXON) will be joining the index as part of its annual reconstitution. These three companies will be added to the index before the stock market opens on Monday, December 23, replacing Illumina Inc (NASDAQ:ILMN, ETR:ILU), Super Micro Computer Inc (NASDAQ:SMCI) and Moderna Inc (NASDAQ:MRNA, ETR:0QF).
Palantir Technologies (PLTR) isn't the only name joining the Nasdaq-100 Index (NDX) next week.
Recently, Zacks.com users have been paying close attention to Palantir Technologies (PLTR). This makes it worthwhile to examine what the stock has in store.
Year to date, shares of Palantir Technologies (PLTR -2.65%) have soared by 326% while shares of Adobe (ADBE -0.64%) have tanked by 20%. However, picking a stock based largely on its recent performance is a strategy fraught with risks.
Investors are snapping up the three stocks that are set to join the Nasdaq 100 next week, judging by premarket action.
Dan Ives is the global head of technology research at Wedbush Securities. During his two decades following the tech sector, Ives has made several big, bullish calls that challenged the prevailing sentiment on Wall Street.
Bearish analysts may have to raise their targets on top performers. And many other S&P 500 stocks are expected to do extremely well in 2025.
Palantir Technologies (PLTR) shares are likely to be in the spotlight on Monday after the Nasdaq announced late Friday that the analytics software provider, along with MicroStrategy (MSTR), and Axon Enterprise (AXON), had been added to the Nasdaq 100 Index.
[00:00:00] Douglas McIntyre: My favorite U.
There's no way to deny it: 2024 was a stunning year for the stock market. As of this writing, the S&P 500 is up nearly 28% year to date.
Last year, it seemed like all anyone could talk about was how big tech was going to change the world with artificial intelligence (AI). Among the "Magnificent Seven" stocks -- Nvidia, Microsoft, Apple, Alphabet, Meta Platforms, Amazon, and Tesla -- it quickly became clear that AI would be the next megatrend, and these companies have been among its biggest influences.