Sandisk Joins the S&P 100 on Monday -- the Same Day Nike Leaves It
Index funds will need to buy the flash-memory specialist's stock ahead of Monday -- though maybe not much of it.
On September 21, Sandisk entered the S&P 100 index, joining four companies leaving: Nike, Colgate-Palmolive, Simon Property Group, and Honeywell Aerospace. Sandisk's shares have surged over 600% this year, making it the largest gain among S&P 500 stocks. The addition of Sandisk is a result of its 600% year gain, while Nike's stock hit a 52-week low. The S&P 100 is composed of the 100 largest blue-chip companies in the S&P 500.
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