Facebook to be part of Nasdaq 100 index

December 5, 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: Nasdaq OMX to rebalance index; Apple weighting cut

Related Stories

Nasdaq ups ante in Facebook reimbursement plan

July 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.

Recommended for you

Top takeaways from Consumers Electronics Show

January 13, 2018

The 2018 Consumer Electronics Show, which concluded Friday in Las Vegas, drew some 4,000 exhibitors from dozens of countries and more than 170,000 attendees, showcased some of the latest from the technology world.

Finnish firm detects new Intel security flaw

January 12, 2018

A new security flaw has been found in Intel hardware which could enable hackers to access corporate laptops remotely, Finnish cybersecurity specialist F-Secure said on Friday.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.