Michael M. Santiago
DoorDash (NASDAQ:DASH) was named to be a part of the Nasdaq 100 Index late on Friday as part of the annual reconstitution of the index. The online food delivery company will officially be part of the index prior to market opening on December 18.
The Nasdaq-100 Index is composed of 100 of the largest non-financial companies listed on The Nasdaq Stock Market and dates to January 1985. The indexes act as benchmarks for financial products such as options, futures, and funds. The Nasdaq-100 is reconstituted each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter.
Shares of DoorDash (DASH) are up more than 85% over the last year and carved out a new 52-week high of $100.73 on Friday. Short interest on DASH stands at 5.2% of the total float.