Shares of electric vehicle maker Lucid Group (NASDAQ:LCID) and Chinese eCommerce major JD.com (NASDAQ:JD) are under pressure today after the two companies were excluded from the Nasdaq-100 Index (NDX).
The annual reconstitution of the NDX is expected to be effective on December 18. Some other major names being removed from the index include eBay (NASDAQ:EBAY) and Zoom Video Communications (NASDAQ:ZM).
The exclusion from the NDX comes after a nearly 56% decline in JD shares and a 45% value erosion in Lucid shares over the past year. On the other hand, ZM has made up for the price drop during this period following a nearly 17% rally over the past month.
Concurrently, six new names are being added to the index. These include DoorDash (NASDAQ:DASH), MongoDB (NASDAQ:MDB), and Splunk (NASDAQ:SPLK). NDX is made up of the 100 biggest non-financial names listed on the Nasdaq exchange. The NDX index is also a basis for the Invesco QQQ Trust ETF (NASDAQ:QQQ).
What is the Stock Price Forecast for MongoDB?
DoorDash has seen an 85% price jump over the past year. Shares of MDB and SPLK have also rallied nearly 97% and 74%, respectively, during this period. Following these massive gains, the TipRanks Comparison Tool indicates that potential upside may be capped for DASH and SPLK. On the other hand, analysts see a further 21.7% potential upside in MDB shares.
Read full Disclosure
