Lumentum jumps on Nasdaq 100 Index inclusion
Lumentum rose in early trading on Monday after Nasdaq announced on Friday that it would add the optics company to its benchmark index alongside some of the world’s biggest tech companies.
Lumentum makes optical components that use light, rather than traditional copper interconnects, to move data within and between servers in data centers. Its technology is increasingly seen as critical for scaling artificial intelligence capacity.
The stock rose 4.8% in premarket trading by 6 a.m. ET. Shares are up 134% since the start of the year through Friday’s close.
On May 18, it will join the Nasdaq 100 Index, which underpins millions of portfolios. It will replace CoStar Group, a real estate data company.
Lumentum makes optical components that use light, rather than traditional copper interconnects, to move data within and between servers in data centers. Its technology is increasingly seen as critical for scaling artificial intelligence capacity.
The stock rose 4.8% in premarket trading by 6 a.m. ET. Shares are up 134% since the start of the year through Friday’s close.
On May 18, it will join the Nasdaq 100 Index, which underpins millions of portfolios. It will replace CoStar Group, a real estate data company.
