Following a botched IPO and subsequent dips in value, Facebook Inc (NASDAQ:FB) will officially be joining the Nasdaq Q-50 index on September 24th. It now joins a list of 50 other securities in the index, attracting a lot of speculation and possibilities.

Facebook IPO on Nasdaq

After the NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) made some changes to its “seasoning rules” earlier in April, most investors were inclined to believe that Facebook would be joining Nasdaq 100 index by September.  This however did not happen as Nasdaq announced that Facebook Inc (NASDAQ:FB) had not met the requirements to join the coveted flagship index.

Nonetheless, Facebook Inc (NASDAQ:FB) has achieved a milestone by joining the Nasdaq Q-50 index, getting it a step closer to joining the flagship Nasdaq 100 index. This will not only pull it out of the gutter but it will also restore confidence in disgruntled shareholders.

This may not be the only milestone that Facebook Inc (NASDAQ:FB) will accomplish. Reports suggest that the social media company may join the Dow Jones Composite Internet Index by Friday. Facebook meets the requirements needed to join the Index. The Dow Jones Index, which is expected to rebalance on September 21stFriday, underlies the First Trust DJ Internet Index Fund (ETF) (NYSEARCA:FDN), valued at $480 million.

Before any changes start to kick in, investors looking to have a piece of Facebook will be compelled to direct their interests towards funds such as the Global X social Media ETF. This particular fund, valued at $15 million, now pegs its exposure to the social network at 5.2 percent, representing a drop. All the same, Facebook is still one of the top holdings at the fund.

With the exception of these major changes, Facebook Inc (NASDAQ:FB) will still be available in other ETFs, albeit in smaller portions. Other notable companies that will make an in on the Nasdaq Q-50 index include Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX), Groupon Inc (NASDAQ:GRPN) and Western Digital Corp. (NASDAQ:WDC).

The Nasdaq Q-50, which seemingly appears to lack the attachment of ETFs, acts as a pipeline to the greater Nasdaq 100. It acts as a benchmark where stocks are ranked according to market caps and objectively analyzed on basis of performance. All this proves to be instrumental in guiding decisions regarding the next 50 stocks that will be included in the Nasdaq 100 index.

The initial speculation of having Facebook Inc (NASDAQ:FB) added to the Nasdaq 100 index would have propelled the company’s stock immensely. Its stock would be pushed into a roster of ETFs, one of them the $34 billion PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ). However, this did not happen as the stock plummeted shortly after the highly anticipated IPO, shedding off most of its value.