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MongoDB (NASDAQ:MDB) rose 1.6% on Monday premarket after news it would be included in the Nasdaq 100 index.
The platform joins DoorDash (DASH) as part of the annual reconstitution of the index. The companies will officially be part of the index prior to market opening on December 18.
The Nasdaq-100 Index is composed of 100 of the largest non-financial companies listed on The Nasdaq Stock Market and dates to 1985. The indexes act as benchmarks for financial products such as options, futures and funds. The Nasdaq-100 is reconstituted each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter.
Other additions to the index are CDW (CDW), Coca-Cola Europacific Partners (CCEP), Roper Technologies (ROP) and Splunk (SPLK).
Six companies will be removed from Nasdaq 100 as a result of the reconstitution: Align Technology (ALGN), eBay (EBAY), Enphase Energy (ENPH), JD.com (JD), Lucid Group (LCID), and Zoom Video Communications (ZM).
Shares of MongoDB (MD) have doubled in 2023. Short interest on DASH stands at 4.8% of the total float.
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