Enphase Energy, Inc. to Join the NASDAQ-100 Index Beginning November 21, 2022

Rhea-AI Summary

Nasdaq announced that Enphase Energy, Inc. will replace Okta, Inc. in the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index before the market opens on November 21, 2022. This change reflects Enphase's growing significance in the market, while Okta will also exit the NASDAQ-100 Technology Sector Index and the NASDAQ-100 Technology Sector Market-Cap Weighted Index. Enphase will be evaluated for inclusion in the NASDAQ-100 Ex-Technology Index during the next quarterly rebalancing.

Positive

• Enphase Energy, Inc. is joining the prestigious NASDAQ-100 Index, indicating strong market positioning.
• The transition reflects investor confidence and may enhance Enphase's visibility and stock liquidity.

Negative

• Okta's removal from major indices may reflect declining investor confidence and could impact its stock performance.

NEW YORK, Nov. 11, 2022 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced that Enphase Energy, Inc. (Nasdaq: ENPH) will become a component of the NASDAQ-100 Index^® (Nasdaq: NDX) and the NASDAQ-100 Equal Weighted Index (Nasdaq: NDXE) prior to market open on Monday, November 21, 2022. Enphase Energy, Inc. will replace Okta, Inc. (Nasdaq: OKTA) in the NASDAQ-100 Index^® and the NASDAQ-100 Equal Weighted Index. Okta, Inc. will also be removed from the NASDAQ-100 Technology Sector Index (Nasdaq: NDXT) and the NASDAQ-100 Technology Sector Market-Cap Weighted Index (Nasdaq: NDXTMC) prior to market open on Monday, November 21, 2022. Enphase Energy, Inc. will be considered for inclusion in the NASDAQ-100 Ex-Technology Index (Nasdaq: NDXX) at the next quarterly rebalancing.

For more information about the company, go to https://enphase.com/.

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NDAQG

Media Contact:		Camille Stafford, Nasdaq
Issuer & Investor Contact:		Index Client Services, Nasdaq
		Indexservices@nasdaq.com

FAQ

When will Enphase Energy be included in the NASDAQ-100 Index?

Enphase Energy will be included in the NASDAQ-100 Index before the market opens on November 21, 2022.

Who will Enphase Energy replace in the NASDAQ-100 Index?

Enphase Energy will replace Okta, Inc. in the NASDAQ-100 Index.

What are the implications of Enphase Energy joining the NASDAQ-100 Index?

Joining the NASDAQ-100 Index may improve Enphase Energy's visibility and attract more institutional investment.

Will Okta, Inc. be removed from any other indices?

Yes, Okta, Inc. will also be removed from the NASDAQ-100 Technology Sector Index and the NASDAQ-100 Technology Sector Market-Cap Weighted Index.

Is Enphase Energy being considered for any other indices?

Yes, Enphase Energy will be considered for inclusion in the NASDAQ-100 Ex-Technology Index at the next quarterly rebalancing.