SanDisk to Replace Atlassian in Nasdaq-100 on April 20 Rebalance
SanDisk will join the Nasdaq-100 on April 20, 2026, replacing Atlassian after surpassing market cap thresholds in the data storage sector. More than $600 billion in index-tracking assets will be reallocated, likely triggering short-term selling pressure on Atlassian shares.
1. April 20 Index Reshuffle
The Nasdaq-100 will implement its semi-annual rebalance before the market open on April 20, 2026, removing Atlassian and adding SanDisk. This change affects the 100 largest non-financial companies listed on the exchange and realigns the benchmark with current market capitalizations.
2. Passive Fund Flows and Atlassian Pressure
Index funds and ETFs managing over $600 billion in assets replicate the Nasdaq-100’s holdings, so the rebalance is expected to drive significant buying of SanDisk and selling of Atlassian. Passive divestment by these vehicles may exert short-term downward pressure on Atlassian's share price.
3. Sandisk’s Market Cap Expansion
SanDisk’s inclusion reflects its surge in market capitalization driven by growing demand for data storage and semiconductor solutions. Joining the Nasdaq-100 will boost its visibility, liquidity and potentially lower its cost of capital among institutional investors.