Shares of Sandisk Corporation (NASDAQ:SNDK) rose 4% on Monday after Nasdaq announced the company will be added to the Nasdaq-100 Index.
The exchange said Sandisk will replace Atlassian Corporation (NASDAQ:TEAM) as a component of the Nasdaq-100, with the change scheduled to occur prior to market open on Monday, April 20, 2026.
Inclusion in the Nasdaq-100 usually creates new demand for a company’s stock because vehicles that track the index - including index-tracking funds and exchange-traded funds - must buy shares to align their holdings with the index composition. The Nasdaq-100 is made up of the largest non-financial companies listed on the Nasdaq Stock Market and serves as the underlying benchmark for a wide range of investment products.
The announcement that Sandisk will join the Nasdaq-100 followed Nasdaq’s routine reconstitution process and led to immediate market reaction, with the company’s shares advancing by the reported amount on Monday. The listing change is set to be implemented before trading begins on April 20, 2026.
Context and market mechanics
The addition and removal of stocks from a major index like the Nasdaq-100 can prompt mechanical buying or selling by funds that replicate the index. When a company is added, managers of index funds and ETFs that track the Nasdaq-100 generally need to acquire the newly included shares so their portfolios reflect the updated index weighting. Conversely, the stock being replaced is removed from those portfolios.
This particular reconstitution affects two Nasdaq-listed names explicitly identified by the exchange: Sandisk, which will be added, and Atlassian, which will be removed. The announcement specifies the timing - prior to the market open on April 20, 2026 - and does not offer additional operational or strategic details about either company.
The Nasdaq-100’s role as the basis for numerous investment products means such changes are notable to market participants, index fund managers and investors who monitor index compositions and passive flows.