The Nasdaq is due to announce any changes to the Nasdaq 100 index as part of its annual reconstitution at 8 p.m. ET Friday.

MicroStrategy (NASDAQ:MSTR), and Axon Enterprise (NASDAQ:AXON) will be added to the Nasdaq-100 Index, according to the exchange operator.  To make way for those companies, Nasdaq (NDAQ) said late Friday that Illumina (NASDAQ:ILMN),

Palantir Technologies, MicroStrategy, and Axon Enterprises will join the Nasdaq 100 index as part of its annual reconstitution, replacing Moderna, Super Micro Computer, and Illumina. These changes had been expected because the reconstitution adds companies ...

Palantir, MicroStrategy, and Axon Enterprise are set to join the Nasdaq 100 Index on Monday, Dec. 23, replacing Super Micro Computer, Moderna, and Illumina.

MicroStrategy Inc, the dot-com-era software maker whose metamorphosis into a leveraged bet on bitcoin has transfixed Wall Street, is joining the Nasdaq 100 Index, the benchmark’s overseer says.

A Nasdaq-100 index membership means mutual funds, exchange-traded funds (ETFs), and other financial products based on this index will have to buy shares of Palantir. This increased demand should exert at least some upward pressure on the stock price.

The firm gets classified as a software company due to its main business before it became the largest corporate holder of Bitcoin.

Palantir, bitcoin play MicroStrategy and Axon Enterprise will join the Nasdaq 100 index. Moderna, Super Micro and Illumina will exit.

Key Takeaways Palantir shares are likely to be in the spotlight on Monday after the Nasdaq announced late Friday that the analytics software provider had been added to the Nasdaq 100 Index.The stock has continued to trend sharply higher after breaking out from a cup and handle pattern,