Moderna Just Joined the Nasdaq-100. Here’s What That Means for Investors.
Pharmaceutical outfit Moderna (NASDAQ: MRNA) recently raised its status as a prospective investment. Specifically, earlier this month, Nasdaq Inc. — which owns and operates the Nasdaq Stock Market — added Moderna to its Nasdaq-100 index. The index tracks the collective performance of the Nasdaq’s 100 largest listings that aren’t part of the financial sector.
On the surface, it doesn’t mean much; it certainly doesn’t alter the company’s fiscal performance.
Still, it’s a bullish development if only because it puts the company on more investors’ radars. It also prompts fund managers overseeing exchange-traded funds (ETFs) meant to mirror the performance of the Nasdaq-100 Index (like the Invesco QQQ Trust (NASDAQ: QQQ)) to purchase this stock, so their underlying portfolios accurately reflect the index.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.