By Suzanne McGee and Lewis Krauskopf NEW YORK (Reuters) - Newly publicly traded company Arm Holdings is poised to be added to popular indexes such as ...
By Suzanne McGee and Lewis Krauskopf NEW YORK - Newly publicly traded company Arm Holdings is poised to be added to popular indexes such as the tech-heavy Nasdaq 100, although inclusion inWatch onNEW YORK - Newly publicly traded company Arm Holdings is poised to be added to popular indexes such as the tech-heavy Nasdaq 100, although inclusion in the S&P 500 is unlikely, analysts said.
Inclusion in widely-followed indexes and ETFs often gives a fresh boost to stocks. Fund managers and investors who benchmark to indexes are also encouraged to hold the shares if they are included in widely-used gauges. The index is up about 40% this year, largely due to the performance of a handful of megacap stocks including chip-maker Nvidia, whose shares have tripled this year thanks in-part to excitement over advances in artificial intelligence.
The smallest company in the Nasdaq 100 is Lucid Group, which has a market capitalization of about $13 billion, so ARM should qualify for inclusion based on its market cap, according to Todd Sohn, technical strategist at Strategas.
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