Sandisk to Join Nasdaq-100; Atlassian Removed in Rebalance

Nasdaq announced that Sandisk Corporation (Nasdaq: SNDK) will be added to the Nasdaq-100 Index prior to the market open on April 20, 2026, with Atlassian Corporation (Nasdaq: TEAM) removed from the index. The change was made in accordance with the Nasdaq-100 index methodology and scheduled rebalancing.

The formal notice, published April 10, 2026, specifies that the component update follows the methodology currently in effect and becomes effective before trading begins on the designated date. Nasdaq emphasized that the Nasdaq-100 measures the performance of 100 of the largest non-financial companies listed on Nasdaq and that component updates are handled under established rules.

Index inclusion and exclusion events typically prompt mechanical flows as index-tracking funds and ETFs buy newly added securities and sell those being removed. Given that more than 200 investment products track the Nasdaq-100, the entry of SNDK may generate incremental buying pressure on Sandisk shares, while TEAM could face outflows tied to passive rebalancing. Such flows can temporarily affect trading volumes and short-term volatility for both names.

In the broader market context, periodic reconstitutions and special rebalances of major benchmarks drive shifts in sector weights and investor exposure. Sandisk’s core business in data storage and semiconductors contrasts with Atlassian’s enterprise software profile, illustrating how index composition can migrate across subsectors of the technology complex. Market participants monitor these shifts for implications on sector rotation and fund positioning.

Market strategists expect increased attention on liquidity and trade execution around the April 20 effective date as passive vehicles implement changes. Short-term price moves may present trading and arbitrage opportunities, but investors are advised to consider transaction costs and potential slippage. Key indicators to watch in the coming days include daily volumes, bid-ask spreads, and net flows into Nasdaq-100 linked products as the market absorbs the component update.