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Nasdaq Composite Index
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Launched in 1971, the NASDAQ Composite Index is based on more than 4,000 domestic and international securities listed on the NASDAQ. Technology and Internet stocks predominate the NASDAQ Composite Index; others include financial, consumer, biotech, and industrial companies. This makes the NASDAQ Composite Index one of the major market indices. The NASDAQ Composite is a market capitalization-weighted index. Its base date is February 5, 1971, with a base of 100.00. Since January 1, 2004, any new security's U.S. listing must be exclusively on the NASDAQ to be included in the NASDAQ Composite Index. The NASDAQ Composite Index excludes closed-end funds, convertible debentures, exchange traded funds, preferred stocks, rights, warrants, units and other derivatives. The companies in the NASDAQ Composite Index, though risky and speculative, have high growth potential. That accounts for the volatility of the NASDAQ Composite Index.
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