Salida de Rivian del Nasdaq 100: ¿Impacto mínimo en el mercado?

Inversores de fabricantes de vehículos eléctricos, Rivian Automotive and Lucid Group, are grappling with another hiccup. However, this time, it might not be a significant worry. Rivian, also recognized as RIVN on the stock market, is on its way out of the Nasdaq 100, a key index comprising top non-financial firms listed on the Nasdaq exchange. From June 20, it will be substituted by ON Semiconductor.

The yardstick for inclusion in the index primarily revolves around market capitalization, along with factors like trading volumes. The market value of Rivian has plummeted roughly 66% since early 2022, standing at about $14 billion. Contrastingly, ON Semi has experienced a roughly 50% leap in market capitalization, now valued around $40 billion.

Inclusion in an index can stabilize a stock’s investor base, given the funds that track that particular index, explains Barron’s. Still, Rivian’s departure from the Nasdaq 100 might not significantly impact its stock. Funds tracking the Nasdaq 100 collectively invest hundreds of billions of dollars. It’s a considerable sum but pales compared to the roughly $16 trillion indexed to the S&P 500. The S&P 500 triggers significantly more buying and selling.

Ultimately, a company’s stock value is linked to its earnings and cash flow. But other factors like valuations and liquidity also play a part. Rivian isn’t part of the S&P 500 and isn’t poised to join any time soon since the S&P requires consistent profitability for eligibility.

El futuro de Lucid Group puede imitar al de Rivian. Lucid, con una capitalización bursátil de unos $13.000 millones, ha visto caer sus acciones unas 75% desde principios de 2022. Ambas empresas se han enfrentado a desafíos para escalar la producción, se han enfrentado a la creciente competencia de EV y han visto disminuir el entusiasmo de los inversores debido al aumento de las tasas de interés. Estos aspectos seguirán pesando más en sus acciones que la inclusión en el Nasdaq 100.

Foto cortesía de Rivian.