Facebook to be part of Nasdaq 100 index

Dec 05, 2012
People walk past the Nasdaq exchange in Time Square in June 2012 in New York City. Facebook will become part of the Nasdaq 100 index of the largest non-financial companies listed on the electronic exchange, the market operator said Wednesday.

Facebook will become part of the Nasdaq 100 index of the largest non-financial companies listed on the electronic exchange, the market operator said Wednesday.

will join the index on December 12, a statement from Nasdaq said. It will replace the IT firm Infosys, which is moving to the .

The news could be positive for the huge social network, which made its keenly anticipated market debut in May at $38 a share, then saw the stock price slide by more than 50 percent in subsequent weeks on concerns over its business model.

Being part of the index means a number of institutional and portfolio investors will purchase the stock for funds that seek to mirror the market index.

Facebook will also be part of the Nasdaq 100 Equal Weighted Index and the Nasdaq 100 Technology Sector Index.

Shares in Facebook were down 0.24 percent in midday trade at $27.39, representing a total market value of $59.4 billion.

Explore further: The New York Times to cut 100 newsroom jobs

add to favorites email to friend print save as pdf

Related Stories

Nasdaq ups ante in Facebook reimbursement plan

Jul 21, 2012

(AP) — The Nasdaq stock exchange is chipping in more money to reimburse investment firms that lost money when online social network Facebook went public in May because computer glitches delayed their trading orders.

Nasdaq readies payouts for Facebook IPO glitch: WSJ

Jun 05, 2012

Nasdaq is taking steps toward compensating investor losses due to computer glitches that fouled trading on the first day of Facebook's $16 billion IPO, the Wall Street Journal said Tuesday.

Recommended for you

Germany's Rocket Internet has lukewarm IPO

7 hours ago

Germany's ambitious start-up platform Rocket Internet made its high-profile arrival on the Frankfurt stock market on Thursday but got off to a disappointing start as shares slumped in morning trading.

Samsung China supplier sues US labor watchdog

7 hours ago

A Chinese supplier of Samsung Electronics Co. filed a lawsuit accusing a New York City-based labor watchdog of spreading false rumors of child labor, but the labor group says it has evidence to back up its report.

The New York Times to cut 100 newsroom jobs

23 hours ago

The New York Times Co. says it is cutting about 100 newsroom jobs through buyouts and layoffs in an effort to trim costs and focus more on its digital efforts.

User comments : 0