DoorDash And Zoom Video Shares Are Moving In Opposite Directions Monday: What's Going On?
Portfolio Pulse from Adam Eckert
DoorDash Inc (DASH) and Zoom Video Communications Inc (ZM) shares are moving in opposite directions after the Nasdaq announced the annual reconstitution of the Nasdaq-100 Index. DoorDash was added to the index, while Zoom was removed. As a result, DoorDash shares were up 2.63% at $102.63, and Zoom shares were down 1.88% at $71.68.
December 11, 2023 | 3:46 pm
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POSITIVE IMPACT
DoorDash shares increased by 2.63% after being added to the Nasdaq-100 Index, indicating positive investor sentiment.
Being added to the Nasdaq-100 Index often results in increased investor interest and can lead to a rise in stock price due to the perceived prestige and the potential inclusion in index funds and ETFs tracking the Nasdaq-100.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Zoom Video Communications shares decreased by 1.88% after being removed from the Nasdaq-100 Index, reflecting negative investor sentiment.
Removal from the Nasdaq-100 Index can lead to negative investor sentiment as it may result in less visibility and potentially being dropped from index funds and ETFs that replicate the Nasdaq-100, leading to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100