Equinix to Join NASDAQ 100
Colocation market leader Equinix will join the NASDAQ 100 index on Monday, Dec. 24. Paulo Gorgo, an analyst who has tracked EQIX closely over the years, has a column at Seeking Alpha that looks at the history of the company and its journey, including a near-death experience during the dot-com bust. It’s worthwhile reading, especially in noting the emergence of “Equinix 2.0″ through a 2002 deal to acquire two data center providers in the Asia-Pacific region.
I remember reading through that 2002 release about three times in an effort to understand the complex restructuring, which included a reverse stock split. That turned out to be a pivotal moment in the life of the company, which has since emerged as a benchmark for the colocation sector and data center stocks. The inclusion of Equinix in the NASDAQ 100 has boosted the company’s shares, which will now be purchased by funds and ETFs that mirror the NASDAQ index. It’s a heady milestone for the company, and a good time to reflect on the difference a decade can make.