Key insights
- Astera Labs and Rocket Lab shares surged in after-hours trading due to their inclusion in the Nasdaq-100 index. This rebalancing event typically increases demand for added stocks as passive funds adjust portfolios. The move highlights continued investor interest in AI infrastructure and the commercial space sector, potentially providing a modest bullish signal for these specific companies and related tech/aerospace segments.
Investing.com-- Shares of Astera Labs (NASDAQ:ALAB) and Rocket Lab (NASDAQ:RKLB) jumped in extended trading on Thursday after Nasdaq announced the companies would be added to the Nasdaq-100 Index as part of its June quarterly rebalance.
Astera Labs, a maker of semiconductor connectivity solutions used in artificial intelligence data centers, rose about 5% after the bell to $383.50, while space technology company Rocket Lab surged nearly 11% to $126.95.
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Nasdaq said Astera Labs, Rocket Lab, CoreWeave (NASDAQ:CRWV), Nebius Group (NASDAQ:NBIS), and Teradyne (NASDAQ:TER) will join the Nasdaq-100 before the market opens on June 22.
They will replace Charter Communications (NASDAQ:CHTR), Cognizant Technology Solutions (NASDAQ:CTSH), Insmed (NASDAQ:INSM), Verisk Analytics (NASDAQ:VRSK) and Zscaler (NASDAQ:ZS).
Inclusion in the Nasdaq-100, which tracks the largest non-financial companies listed on the exchange, often boosts demand for newly added stocks as passive funds and exchange-traded products rebalance their portfolios to match the benchmark.
The move marks another milestone for Astera Labs and Rocket Lab, whose shares have rallied strongly over the past year amid investor enthusiasm for artificial intelligence infrastructure and the commercial space sector, respectively.
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