Sandisk Stock Joining Nasdaq 100. This Software Stock Is Getting Booted Out

Dow Jones
04/13

Sandisk stock was rising on Monday after Nasdaq said it would be adding the flash memory product supplier to the Nasdaq 100 index.

Shares climbed 3.8% to $884.31 in morning trading.

Sandisk is set to join the Nasdaq 100 before the market opens on April 20. The stock is up 259% so far this year and 2,439% over the past 12 months, boosted by the expectation that the boom in construction of artificial-intelligence data centers will drive up memory demand.

Software company Atlassian will leave the Nasdaq 100 to make room for Sandisk. Atlassian stock has tumbled 65% in 2026, dragged down by worries about how the rise of AI will disrupt the software industry.

Joining a major index like the S&P 500 or Nasdaq 100 tends to boost a stock, because index and exchange-traded funds are required to buy the new member’s shares.

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