iTechGuides is reader-supported. When you buy through links on our site, we may earn an affiliate commission. As an Amazon Associate I earn from qualifying purchases. Learn more
Usually, Nasdaq-100 inclusion has been linked with a positive average price reaction, particularly around the announcement. That pattern is not a rule for every stock: in Nasdaq’s 2010–2020 sample, 64% of additions rose on the first day after announcement. Much of the average move appeared before index funds traded, and academic evidence points more to liquidity and investor attention than to improved company operations.
What the historical evidence actually shows
The clearest published evidence comes from Nasdaq’s analysis of companies added to the index between 2010 and 2020. Nasdaq reported an average market-adjusted return of more than 1% over a window beginning five days before the announcement and extending beyond the date the additions entered the index. “Market-adjusted” means the stock’s performance was evaluated relative to a broader market benchmark rather than as an isolated price change.
That figure is an average across a historical sample, not an expected return for the next addition. Nasdaq also reported that only 64% of new additions increased on the first day after the announcement. A positive average can therefore coexist with declines in many individual stocks when a smaller number of large gains lift the overall result.
Recommended Free Tools
The reported average also depends on how unusual observations are handled. Nasdaq excluded Zoom Video Communications (ZM), Moderna (MRNA) and PDD Holdings (PDD) from its stated average because it considered them unusually affected by COVID-era conditions as well as index inclusion. Nasdaq said those three names added about three percentage points to the longer-run average when they were included. That adjustment illustrates why a headline percentage should not be treated as a universal inclusion premium.
#1 Best Overall
- Powerful Turbo Fan:CAGIWIRU Electric Air Duster have reached speed up to 130000RPM,Can efficient remove dust and debris.With LED light and Three Adjustable Speed to meet with different cleaning tasks.
- With Attached USB C Fasting Charging cable.Charing 3 hours,Enjoy up to 240 minutes of use on the lowest setting, For third speed can use for 25mins.with four charging options to meet with your needs.
- Wide Application: attached 5 different nozzles,making it suitable for a variety of scenes, such as car,pet, pc, keyboards, and other electronic devices. It also serves for office and home clean duster.
- Handy Design & Portable:Cordless air duster electric nozzle is Light weight and small size, design and comfortable to hold and space saving, convenient to carry around. You can put it in your room or inside the car without taking up space.
- Economical &Reusable: Built durable materials with a long-lasting battery,our CAGIWIRU air duster it's a sustainable alternative to disposable air cans.
Nasdaq described the average outperformance as lasting for at least about 90 days after indexers traded in its sample. The longer-term difference generally moved back toward the broad market after around six months. These are observations about that 2010–2020 group and the measurement window used in the 2021 article, not a forecast for a particular company.
Announcement day and effective date are different events
Index inclusion has at least two relevant dates: the announcement, when the market learns that a stock will be added, and the effective or trade date, when index-tracking portfolios must implement the change. Treating them as one event can lead to a misleading explanation of the price move.
| Event | What investors learn or do | What the cited evidence suggests |
|---|---|---|
| Before announcement | Market participants may anticipate a likely selection and trade ahead of the formal notice. | Nasdaq’s measured window starts five days before announcement, and part of the average outperformance was already present in that period. |
| Announcement | The addition becomes public information. Traders revise expectations about demand, visibility and liquidity. | Nasdaq found a positive average market-adjusted response, but not every stock rose; 64% increased on the first day after announcement. |
| Effective or index-trade date | Funds that track the Nasdaq-100 adjust their holdings, while other investors may rebalance or unwind earlier trades. | Nasdaq said the market often absorbed index flows with minimal additional impact because much of the response had already been priced in. |
| Following months | Any temporary demand effect competes with company news, valuation changes and general market performance. | In Nasdaq’s sample, average outperformance persisted for about 90 days and tended to converge with the broad index by roughly six months. |
This timing explains why a stock can rise before an index fund is required to buy it. Traders who expect forced demand may purchase shares in advance, moving the price before passive funds execute. Conversely, a stock that has already rallied in anticipation can show little additional movement on the official trade date, or even decline if investors sell after the event.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
Rank #2
- Screen Cleaner is Your Screen’s New Bestfriend! - EVEO is proud to present a screen cleaner that’s perfectly suited for your TV. Meet your new screen cleaner, computer screen cleaner, laptop cleaner, iPad cleaner, Macbook,tv cleaner or any other electronic device. Our screen cleaner spray and wipe along with the included plush microfiber cloth, easily removes dust, fingerprints & other smudges on the screen’s surface. Clean effectively for a streak-free screen
- Gentle on your Screens - Our screen cleaner spray and wipes is compatible to be used even for the most sensitive LCD, LED, CRT, and OLED screens in proper use. Be at ease knowing that this product is compatible with all the major brands: LG, SONY, Samsung, Sharp, iPad, iPhone, Android screens, Kindle, PC monitors - we’ve got you covered! Can be used as LCD screen cleaner, tv cleaner, smart tv screen cleaner, and more
- Premium Super Soft Plush Microfiber Cloth - Included in this efficient screen cleaning kit. This screen cleaner spray and wipe has our signature plush microfiber cloth specially designed to comply with screens and monitors and leave them streak-free. Has been shown to effectively absorbs stubborn stains, zero streaks, and no fiber shedding. Always use this together with our screen cleaner for the best results
- Easy-to-Use Screen Cleaner Kit + microfiber cleaning cloth - The EVEO Screen Cleaning Kit will easily be your new favorite tool when it comes to taking care of the things you love most, quick and easy solution for a streak-free screen. Simply screw on the sprayer gun on the screen cleaner bottle. Spray the cleaning liquid onto the microfiber cloth, then wipe the screen until desired cleanliness & shine is achieved.
- Quality Screen Care Kit Worth Purchasing - Enjoy a convenient Screen Cleaner anytime, anywhere you need it. Your satisfaction is our top priority. We stand behind the quality of our products and that’s why, you shouldn’t be worrying at all. We manufacture the Best Screen Cleaner. and can be used for laptop cleaning kit, laptop screen cleaner, tv screen cleaner for smart tv. MacBook screen cleaner, monitor cleaner or screen cleaner spray for electronic devices with microfiber cleaning cloth
Why inclusion can move a price
Expected index-fund demand
Funds designed to track the Nasdaq-100 generally need to hold the constituents in index weights. When a company is announced as a new constituent, market participants can estimate that demand and trade before the rebalance. The eventual fund purchases are real flows, but anticipation can shift the price earlier and reduce the incremental effect when those purchases occur.
Liquidity and trading costs
A 2015 study by Susana Yu, Gwendolyn Webb and Kishore Tandon, published in Managerial Finance (volume 41, issue 5, pages 480–506), examined announcement abnormal returns and several possible explanations. Its abstract reports that liquidity variables were significant and that average bid-ask spreads were lower after additions. A narrower spread reduces the cost of entering or exiting a position and can make a newly included stock more attractive to institutions.
The study does not establish that liquidity is the only cause of every price change. Its result is an association from a multivariate analysis, and the accessible abstract does not provide numerical effect sizes for the spread or return results.
Rank #3
- 【Large size】：Measuring 800 x 300 mm/ 31. 5×12 inches, which is wider and taller than others. Large mouse pad can perfectly fit your keyboard and mouse of any size, and there is also ample space for peripherals such as phones, tablets, etc.
- 【LED backlight mouse pad】：Blade Hawks RGB mouse pad provides 7 static modes and 7 dynamic modes will give you the options you are looking for. Power-off memory function remembers the last lighting mode you selected. The super glow fiber Chroma will give you a colorful gaming setup that you want.
- 【Anti-slip rubber base】：Made from Natural rubber, this gaming mousepad will firmly grip your desktop, allowing you to enjoy the ultimate precision in the games you are most passionate about. It also comes with a texture that enhances this ability even further.
- 【Smooth and waterproof surface】: Micro-textured cloth surface, for extremely precise mouse control and a smooth movement. When liquid splashes on the gaming mouse pad, it forms water droplets and slides down. Will not delay your work or gameplay.
- 【Plug and play】: This mouse and keyboard pad is powered by USB, plug and play, no driver required. One button control light modes. Press one time to change the lighting mode, press twice to change the brightness, press and hold about 3 seconds turn ON/OFF.
Investor attention and analyst coverage
The same study reports increased analyst coverage after inclusion. More attention can bring additional research, trading interest and information into the market. Those channels can support demand or improve trading conditions without implying that the company suddenly became more profitable.
The Tool Desk
Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Visibility without operational improvement
Yu, Webb and Tandon found no significant evidence that inclusion improved operating performance or managerial effort. A price response can therefore reflect market structure and attention rather than a change in sales, margins, cash flow or execution. Inclusion is an index-classification event, not a guarantee of better fundamentals.
How to interpret the numbers without overclaiming
Average return is not a probability of success
The “more than 1%” result describes an average market-adjusted return over Nasdaq’s specified window. It does not mean a future addition has a one-in-one chance of gaining 1%, nor that the stock should be bought for that return. The 64% first-day figure is a separate statistic: it counts the share of additions that rose on the day after announcement. It says nothing by itself about the size of gains and losses, a different holding period or a different market environment.
Rank #4
- 【Softer and More Comfortable】Vaydeer wrist rest has unique diamond pattern, which is the combination of softness and aesthetics. The materials of wrist rest are improved into higher quality memory foam and covered with silky smooth lycra. The computer wrist rest makes you as comfortable and cushiony as like rest your wrists on clouds.
- 【Ergonomic Wrist Saver】The wrist rests for keyboard and mouse comes with a 17.32×3.15×0.83 inch keyboard wrist pad and a 5.94×3.15×0.83 inch mouse wrist support. Based on ergonomic design, the unique concave shape is the perfect fit for your wrist joints. The wrist rest pad fits most computer keyboards and laptops, improve hand and wrist posture, release your wrist and arm stress.
- 【Non-Slip Rubber Bottom】Featuring an anti-skid silicone base on the bottom, this wrist keyboard support stays firmly in place on your desk, preventing the padding from sliding around, ensuring stable and consistent wrist support during extended computer sessions.
- 【Better Experience & Pain Relief】Our keyboard arm rest is beneficial to alleviate the soreness caused by direct contact and friction between your arm and a hard desk surface, reducing the risk of wrist fatigue or carpal tunnel. The soft texture of memory foam can evenly distribute the pressure around your wrists and provide good support with just enough give.
- 【Helpful in Multiple Scenarios】Whether you're working, studying, writing, typing, gaming, this keyboard and mouse rest combo is an essential accessory to add comfort and support to your hands and wrists. It’s also a great gift for men, women, family, friend, coworker, gamer, teacher, etc.
Outliers can dominate a small sample
Nasdaq’s decision to exclude ZM, MRNA and PDD from its stated average shows how sensitive the result can be to extraordinary company and market circumstances. Their COVID-era gains were not purely an index effect. If a study includes such observations, the average can look much stronger; if it excludes them, the estimate may better represent ordinary events but still remains sample-specific.
Market-adjusted does not mean causally isolated
Subtracting or comparing with a market benchmark helps account for broad market moves, but it cannot remove every confounding factor. Earnings releases, product news, interest-rate expectations, sector rotations, options activity and speculation about eligibility can overlap the announcement window. The cited sources support an association between inclusion and price behavior, not a single-factor causal model for each stock.
Crashes, No Sound, or Screen Glitches?
Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minutePC Slower Than It Used to Be?
A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11When does Nasdaq-100 inclusion occur?
Nasdaq says the index is rebalanced annually in December. Constituent changes can also occur during the year when a company is acquired or no longer meets continuing-eligibility requirements. Consequently, the calendar date of a price move depends on the specific announcement and implementation schedule rather than on one fixed annual trading day.
Best Value
- 【No Drill Mounted】Cable management tray can be assembled in as little as 3 minutes or less-simply. Side clips easily clampe the edge of desk, pass through the holes on the sides, and secure excess cables with baskets. Desk cable management supports inward or outward installation to meet your needs in different scenarios, and provides you with great convenience when collecting and organizing wires.
- 【Rubber Pad Protects Desk】Wire organizer under desk built-in soft rubber pads on the clamp protect your desk from scratches, so you will not damage your furniture or office.
- 【Sturdy and Beautiful】Cord management under desk is made of high-quality carbon steel and holds about 15 lbs. The wire basket has 2 holes on each side of the tray to enable your cables to pass freely. Cable baskets are suitable for desk thickness use from 0.4" to 2.4".
- 【Space Saving & Keep Organized】Desk cable management tray holds all your power cords, outlet strips, USB hubs and computer transformers hidden from your feet, and the data cables will not enter the vacuum cleaner to keep your desk clean and tidy. Desk wire organizer is also suitable for use in the kitchen and outdoors.
- 【Reduce Safety Risks】Cable tray under desk keeps all plugs away from your kids, no more worry about tripping. Using 2 holes wire tray saves extra space, helps you easily cabling and wire protection. The mesh design is not easy to accumulate dust, but avoids safety accidents caused by messy wires.
For any event, identify the formal announcement date, the effective date and whether the change is a scheduled rebalance or an unscheduled replacement. Those dates determine which return window is being measured and whether a move may reflect anticipation, implementation flows or both.
A practical way to analyze a new addition
- Record the event dates. Write down when Nasdaq announced the change and when the index adjustment becomes effective. Do not substitute the effective date for the announcement date.
- Measure the relevant window. Separate the return before the announcement, the first trading day afterward, the effective-date reaction and the subsequent weeks. A single close-to-close number can hide the timing.
- Use a benchmark. Compare the stock with a broad market or appropriate sector benchmark over the same dates. An absolute gain during a market-wide rally is not necessarily an inclusion-specific effect.
- Check overlapping information. Review earnings, guidance, regulatory news, acquisitions, product announcements and major sector moves. These events may explain more of the price change than index membership.
- Assess liquidity changes. Watch bid-ask spreads, trading volume and analyst coverage rather than assuming that index status automatically creates a lasting premium.
- Separate price from business performance. Inclusion can alter ownership and attention without changing operating results. Revisit revenue, margins, cash generation and execution independently.
- Set a time horizon before judging the event. Nasdaq’s historical analysis found an average effect lasting about 90 days and convergence toward the broad index after roughly six months, but those intervals are descriptive rather than predictive.
Common mistakes and how to avoid them
- “Index funds must buy, so the stock must rise.” Anticipation can move the price before funds trade, and selling by early buyers can offset later demand.
- “A positive average means most stocks rise by the average amount.” The 64% first-day result demonstrates dispersion, while the treatment of three COVID-era outliers demonstrates sensitivity to extreme observations.
- “Inclusion proves the business improved.” The 2015 study found no significant operating-performance or managerial-effort effect.
- “The trade date is the only date that matters.” Nasdaq’s analysis says much of the outperformance was priced in before indexers traded.
- “A 2021 statistic is a live trading signal.” The figures describe additions from 2010–2020 and were published in March 2021. Market structure, index rules and investor behavior can change.
- “Findings from another index transfer automatically.” Nasdaq-100 results should not be replaced with evidence from S&P 500 additions or another index with different selection rules.
What the evidence supports—and what it does not
The supported conclusion is narrow: Nasdaq-100 additions have shown a positive average price association around the announcement and inclusion process in the cited historical analysis. The effect is uneven across stocks, often begins before index funds trade, and may fade relative to the broad market over time.
The evidence does not support a guaranteed rise, a fixed percentage gain, a reliable short-term trading rule or a claim that inclusion improves a company’s operations. Liquidity, analyst attention and anticipated demand are plausible mechanisms, while company-specific news and broader market conditions remain important competing explanations.
Quick wins for a faster PC:
Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →For a current event, use the historical results as context for timing and possible mechanisms, then analyze the individual company, the market backdrop and the exact rebalance dates. The index label alone is not enough to predict the next price move.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
