TheStreet.com is reporting that Google has been levered into the Nasdaq 100 index, dispensing with the usual two-year waiting period. The reason given is the rapid growth of its market capitalization. The company is currently valued at around $121 billion.

The inclusion will take effect on December 19.

TheStreet comments, “The Nasdaq 100 is designed to comprise the largest and most liquid nonfinancial stocks on the Nasdaq. The addition of a stock to the group often creates buying interest in the market as mutual funds designed to mimic the index’s performance add it to their portfolios.”

Google stock is tipped to go above $475 in the New Year.