These two IPOs will join the Nasdaq 100

Tesla (TSLA) rival Rivian Automotive (RIVN) and a chip foundry GlobalFoundries (GFS) are among six stocks to join the Nasdaq 100 before the Dec. 19 open, while An apple (AAPL) chip maker Skyworks Solutions (SWKS) and the Chinese search engine giant Baidu (WILL BE) are among the upcoming deletions.




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Nasdaq (NDAQ) announced late Friday that Rivian stock, Global Foundries, CoStar Group (CSGP), Warner Bros. Discovery (WBD), GlobalFoundries, Baker Hughes (BKR) and Diamondback Energy (FANG) will be added as part of an annual rearrangement.

Both Rivian and GFS shares went public in November 2021. Warner Bros. Discovery was spun off in April 2022 by AT&TT, spinning off its Warner Bros. division. and merging it with Discovery.

Meanwhile, VeriSign (VRSN), Splunk (SPLK), Baidu, Matching group (MTCH), DocuSign (DOCU), NetEase (NTES) and the stock of SWKS will fall.

RIVN shares fell 4% in premarket trading on Monday as the EV startup pulled out of talks with Mercedes-Benz to jointly build an EV van factory in Europe. Most other stocks entering or leaving the Nasdaq 100 were little changed or not yet trading.

The Nasdaq 100 index includes the 100 largest non-financial companies listed on Nasdaq. apple stock, Microsoft (MSFT), Google Parent Alphabet (GOOGLE), Amazon.com (AMZN), Nvidia and Tesla stocks are currently the most heavily weighted in the Nasdaq 100.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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