Rivian, Warner Bros. Discovery to join Nasdaq 100 in rebalancing

It is time to shuffle the lineup of the Nasdaq 100 as the annual rebalancing takes place at the end of the week.

Rivian Automotive Inc. and Warner Bros. Discovery Inc. will be joining the Index.

The index will adjust the tech-heavy composition for changes in market capitalization, according to Bloomberg.

Those companies will be art of a slew of changes that will take effect at the start of trading on Dec. 19.

AMAZON, RIVIAN START ROLLING OUT ELECTRIC DELIVERY VANS

CoStar Group, GlobalFoundries, Baker Hughes and Diamondback Energy Inc. will also be added to the index, according to the Nasdaq.

Ticker	Security	Last	Change	Change %
RIVN	RIVIAN AUTOMOTIVE INC.	27.29	-1.29	-4.51%
WBD	WARNER BROS. DISCOVERY INC.	11.09	+0.33	+3.07%
CSGP	COSTAR GROUP	80.70	-1.69	-2.05%
GFS	GLOBALFOUNDRIES	63.42	+1.00	+1.60%
BKR	BAKER HUGHES CO.	27.11	-0.97	-3.45%
FANG	DIAMONDBACK ENERGY INC.	129.60	-3.28	-2.47%

BRACE FOR A RECESSION IN 2023 AS JOB LOSSES TOP 2 MILLION, CITI SAYS

The Nasdaq 100 is made up of the largest non-financial companies listed on the Nasdaq stock exchange.

It currently has 102 members.

Following the additions there will also be subtractions.

VeriSign,, Skyworks Solutions, Splunk,, Baidu., Match Group, DocuSign and NetEase will be removed.

Ticker	Security	Last	Change	Change %
VRSN	VERISIGN INC.	197.67	+0.27	+0.14%
SWKS	SKYWORKS SOLUTIONS INC.	94.52	-0.65	-0.68%
BIDU	BAIDU INC.	119.99	-0.34	-0.28%
SPLK	SPLUNK INC.	87.54	+0.51	+0.59%
MTCH	MATCH GROUP INC.	43.58	-0.45	-1.02%
DOCU	DOCUSIGN INC.	49.16	+5.41	+12.37%
NTSE	WISDOMTREE TRUST EMERGING MKTS EFFICIENT COR	27.31	-0.20	-0.73%

Many large index funds that track the Nasdaq 100 must own all of its members’ shares.

And actively managed funds that are benchmarked against it have to buy the stocks.

The Nasdaq 100 is down 29% this year.

Read the full article here