Pinduoduo, Inc. to Join the NASDAQ-100 Index Beginning August 24, 2020

Rhea-AI Summary

Nasdaq has announced that Pinduoduo, Inc. will enter the NASDAQ-100 Index and the NASDAQ-100 Equal Weighted Index effective August 24, 2020. Pinduoduo will replace NetApp, Inc. in these indexes, which indicates a significant recognition of Pinduoduo in the market. Additionally, NetApp will be excluded from the NASDAQ-100 Technology Sector Index and will enter the NASDAQ-100 Ex-Technology Index at the next quarterly rebalancing.

Positive

• Pinduoduo's inclusion in the NASDAQ-100 Index reflects its growing market influence.
• Replacing NetApp indicates a shift in investor sentiment towards Pinduoduo.

Negative

• None.

NEW YORK, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced that Pinduoduo, Inc. (Nasdaq: PDD), 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, August 24, 2020.  Pinduoduo, Inc. will replace NetApp, Inc. (Nasdaq: NTAP) in the NASDAQ-100 Index® and the NASDAQ-100 Equal Weighted Index. NetApp, Inc. will be also be removed from the NASDAQ-100 Technology Sector Index (Nasdaq: NDXT) prior to market open on Monday, August 24, 2020. Pinduoduo, Inc. will be added to the NASDAQ-100 Ex-Technology Index (Nasdaq: NDXX) at the next quarterly rebalancing.

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

About Nasdaq

Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.

The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular financial product or an overall investment strategy. Neither The NASDAQ OMX Group, Inc. nor any of its affiliates makes any recommendation to buy or sell any financial product or any representation about the financial condition of any company or fund. Statements regarding Nasdaq’s proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.

Media Contact:		Matthew Sheahan, Nasdaq matthew.sheahan@nasdaq.com
Issuer & Investor Contact:		Index Client Services, Nasdaq Indexservices@nasdaq.com

NDAQG

FAQ

What is the significance of Pinduoduo joining the NASDAQ-100 Index on August 24, 2020?

Pinduoduo's addition to the NASDAQ-100 Index signifies increased recognition and investment potential, as it replaces NetApp.

Which company is being replaced in the NASDAQ-100 Index by Pinduoduo?

Pinduoduo will replace NetApp, Inc. in the NASDAQ-100 Index effective August 24, 2020.

What happens to NetApp when Pinduoduo joins the NASDAQ-100 Index?

NetApp will be removed from both the NASDAQ-100 Index and the NASDAQ-100 Technology Sector Index.

Will Pinduoduo be added to any other indexes apart from NASDAQ-100?

Yes, Pinduoduo will be added to the NASDAQ-100 Ex-Technology Index at the next quarterly rebalancing.