IBD: Nasdaq 100 plans special rebalance to curb dominance of 'Magnificent Seven'

INVESTOR’S BUSINESS DAILY reports:

The Nasdaq 100 index is set to adjust the weighting of its 100 components, with the “magnificent seven” stocks Microsoft (MSFT), Apple, Nvidia (NVDA), Tesla (TSLA), Google parent Alphabet (GOOGL), Meta Platforms (META) and Amazon.com (AMZN) currently accounting for more than half the index’s weight. (…)

The Nasdaq 100 special rebalance will take place before the market open on Monday, July 24, to “address overconcentration in the index by redistributing the weights.” The Nasdaq has only conducted a special rebalance twice in its history: in December 1998 and May 2011.

The full post is here.

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