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.

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),

Super Micro Computer ( NASDAQ:SMCI) is back in the spotlightand not in a way investors want. Shares nosedived more than 8% on Tuesday as whispers grew louder about its possible ousting from the Nasdaq 100 index.

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 with the highest markets values in the Nasdaq Composite index that aren’t in the Nasdaq 100

MicroStrategy (MSTR), and Axon Enterprise (AXON) are set to join the Nasdaq 100 Index on Monday, Dec. 23, replacing Super Micro Computer (SMCI), Moderna (MRNA), and Illumina (ILMN), as part of a reconstitution of the index.

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

Palantir and bitcoin play MicroStrategy are expected to get a Nasdaq 100 index invite Friday. Will Moderna and Super Micro get the axe in the annual rebalancing?

Nasdaq has announced that Michael Saylor’s company, MicroStrategy, will have its stock (MSTR) added to the Nasdaq-100 Index, as of Dec. 23. MicroStrategy is one of three companies to be added to the index alongside Palantir Technologies Inc.