Key Takeaways

Shares of Palantir Technologies ( PLTR ) fell Monday, while MicroStrategy ( MSTR ) rose, following the late-Friday news that the companies will join the Nasdaq 100 Index next week.

Axon Enterprise ( AXON ) will also join the index before trading opens on Dec. 23. The trio will replace Super Micro Computer ( SMCI ), Moderna ( MRNA ), and Illumina ( ILMN ), the Nasdaq said Friday .

Software maker Palantir dropped about 4% Monday morning, while major Bitcoin holder MicroStrategy rise 4%. Taser producer Axon dropped nearly 2%. Supermicro slipped almost 7%, while Moderna rose less than 1% and Illumina added 1.5%. (MicroStrategy may also be trading higher due its latest major Bitcoin buy .)

The Nasdaq 100, which contains the 100 largest non-financial sector companies in the Nasdaq Composite Index, is reconstituted annually in December and rebalanced quarterly to weight its constituents by market capitalization.

Among those being removed, Supermicro could be delisted from the Nasdaq altogether if it fails to file its delayed annual report by a February deadline. The server maker has also hired an advisory firm to assist in raising capital, Bloomberg reported Friday.

Correction : The changes to the Nasdaq 100 will take place on Dec. 23. An earlier version of this article incorrectly said they took effect today.

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