CNBC has announced the launch of a new stock index dubbed CNBC Next Generation 50 Index, centered around young people’s interests.
The new index would track 50 equally weighted stocks that offer services around the career aspirations of the millennials and Generation Z.
CNBC Next Generation 50 Index features stocks, bitcoin and Ethereum. Fintech stocks like Coinbase and Netflix in the entertainment category are on the list.
The index was backdated to the beginning of the year after compilation. It is up over 40% despite plunging 17% in the past month due to volatility.
The business news channel says it was informed by weeks of research among the firm’s young journalists and Jim Cramer, an established hedge fund manager.
The stock index is reportedly diverse in size and growth prospects and does not include most major big brands.