Facebook will become part of the Nasdaq 100 index on Dec. 12, The Wall Street Journal reports.
The world's biggest social network will replace Indian technology consultant Infosys, which is moving its listing to the New York Stock Exchange (NSYE).
This represents good news for Facebook, as it establishes the social network as one of the most important technology companies in the world.
It seems that it was very important for Nasdaq to include Facebook in the index as well. Mere days after Facebook decided to list on the Nasdaq Stock Market, the waiting period for a company to be listed on a recognized market before becoming eligible to enter the Nasdaq 100 was reduced from two years to three months.
Facebook has held its IPO in May 2012, but its stock price fell roughly 53% in August. Currently, Facebook is trading at around $27.46 per share, 29% below the initial price of $38.