Lumentum joins Nasdaq 100 after 150% stock surge, replacing CoStar Group.

Lumentum Holdings, an optical technology company valued at $70 billion, will join the Nasdaq 100 index on May 18. This move follows a nearly 150% gain in its stock price this year, marking a rapid rise in market value. Lumentum will replace CoStar Group, a real-estate analytics firm whose market value has dropped to about $13 billion after its shares lost half their value this year. This inclusion highlights Lumentum's growing prominence in the tech sector and the shifting dynamics within the Nasdaq 100.