On Friday evening, it was announced that Peloton would be added to the Nasdaq-100 when the markets open on Monday, December 21, 2020.
The following six companies will be added to the Index: American Electric Power Company, Inc. (Nasdaq: AEP), Marvell Technology Group Ltd. (Nasdaq: MRVL), Match Group, Inc. (Nasdaq: MTCH), Okta, Inc. (Nasdaq: OKTA), Peloton Interactive, Inc. (Nasdaq: PTON), Atlassian Corporation Plc (Nasdaq: TEAM).
The Nasdaq-100 Index is composed of the 100 largest non-financial companies listed on The Nasdaq Stock Market® and dates to January 1985 when it was launched along with the Nasdaq Financial-100 Index®, which is comprised of the 100 largest financial stocks on Nasdaq®. These indexes act as benchmarks for financial products such as options, futures, and funds. The Nasdaq-100 is reconstituted each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter.
The Nasdaq-100 Index is the basis of the Invesco QQQ Trust (Nasdaq: QQQ) which aims to provide investment results that, before expenses, correspond with the Nasdaq-100 Index performance. In addition, options, futures and structured products based on the Nasdaq-100 Index and the Invesco QQQ Trust trade on various exchanges.
This news caps off an impressive year for Peloton as it has seen record sales due to the COVID-19 pandemic shutting down gyms across the world. Peloton’s stock has seen a surge of 312% since the beginning of the year.