Facebook to be part of Nasdaq 100 index

Facebook will join the Nasdaq 100 index on December 12
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

(c) 2012 AFP

Citation: Facebook to be part of Nasdaq 100 index (2012, December 5) retrieved 12 May 2021 from https://phys.org/news/2012-12-facebook-nasdaq-index.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments