The Jacksonville, Fla.-based Class I freight railway currently has a market capitalization of about $25 billion.
CSX Transportation has joined the Nasdaq-100 Index as of the opening of United States financial markets on Monday, according to a statement from the company.
The Nasdaq-100 Index is composed of the 100 largest non-financial stocks listed on the Nasdaq Stock Market and represents more than $5 trillion in market capitalization – the aggregate valuation of a company calculated by the current stock price and the total number of outstanding shares.
The Jacksonville, Fla.-based Class I freight railway currently has a market cap of about $25 billion.
Stock in CSX rallied Monday on the news, closing the day up 3.2 percent at $25.30 per share, but fell again on Tuesday, settling at $24.38 per share at close of market. Shares were down another 2.6 percent to $23.74 in early trading on Wednesday.
“We are pleased to join the influential and successful group of companies that make up the Nasdaq-100 Index,” CSX Chief Financial Officer Frank Lonegro said of the announcement. “Inclusion on the Nasdaq-100 Index reflects CSX’s strong track record of delivering shareholder value despite challenging business conditions.”
CSX joins Nasdaq-100 Index
