Foresight analyst Amichay Bombach: Joining the Nasdaq 100 means that serious institutional investors will now invest in them.
Mercury Interactive Corporation (Nasdaq: MERQ) and Check Point (Nasdaq: CHKP) posted major advances on Nasdaq at the end of last week, and the reason can now be understood: These two companies have joined the prestigious Nasdaq 100 index. Mercury leapt 19% on Friday, while Check Point jumped 15%. The two companies meet the criteria to join the index, and the market apparently believed it would happen.
“Investment by institutional investors in Mercury and Check Point is nothing new,” said Foresight analyst Amichay Bombach, “but joining the Nasdaq 100 means that serious institutional investors will now invest in them. These refrain from investing in companies not on the index. Henceforth, they can more easily give recommendations to invest in them.”
Published by Israel's Business Arena on 11 December 2000