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TIL: Nasdaq-100 is a stock index that holds the top 100 non-financial companies listed on Nasdaq. This index is tracked by many passive index funds, notably mega-ETF QQQ. Being in this list is a big deal for a publicly traded company, as it means that lots of funds will be buying their shares irrespective of price/PE/opinion, because they have to own what's in the index. The index is reassessed periodically (quarterly?) for who belongs and who doesn't, and they have 3 substitutions this month.

In: Microstrategy, Palantir, and Axon Enterprise

Most of you are familiar with MSTR. Palantir sells spyware, and Axon is a tech/weapons company whose best seller is the Taser.

Out: Illumina, Super Micro Computer, and Moderna.

Illumina develops genetic research products, SMCI makes AI hardware, and Moderna was one of two companies who brought COVID vaccines to market.

I'm getting a kick out of this info, for reasons I can't quite articulate.

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Discussion

Bill Cypher 1y ago

So here is the rundown on the companies added to the Nasdaq 100.

Microstrategy is a bitcoin affinity scam, Palantir makes spying tools that governments use to harass their own citizens, and Axon makes Tasers.

The faster all 3 die, the better it is for society. The world is still headed the wrong direction if those 3 are growing.

Lonelypumpkins 1y ago

that's an apt articulation

Lonelypumpkins 1y ago

Palantir was the crystal ball type type thing that was comms between Saruman and Sauron...WTF a spyware company would want to name themselves after Sauron's ring doorbell is beyond me.

I mean, that's what they are obviously, but why they'd wanna evoke that metaphor is beyond me.

Bill Cypher 1y ago

Great question. Usually people up to that sort of thing have deluded themselves into believing they are making the world better. This is more of a smug "I am the bad guy and I'm telling you I'm the bad guy and you are to stupid to get it or care."

Thiel, Palantir founder and part of the PayPal mafia, is quite the character. Look up his story with Gawker and Hulk Hogan. Truly a story with no good guys.