Strategy Slides 6.5% as MSCI Confirms Index Exit and Bitcoin Drops 4%
MSTR sits 40% above its 52-week low of $81.81.
Summary
Strategy closed down 6.49% at $114.41 on Thursday, the first session after MSCI confirmed it will drop the company from its global equity indexes after the Nov. 30 close. JPMorgan has estimated the exclusion could force roughly $2.8 billion of selling by index-tracking funds. Strategy has pushed back, noting MSCI-linked funds held about 13 million of its shares, or 3.1% of basic shares outstanding, and argued the rule change was aimed at digital asset treasury companies. The drop also tracks a broad crypto sell-off: Bitcoin traded near $71,340, down 4.3% in 24 hours, and total crypto market cap fell 3% to about $2.49 trillion. The Nov. 30 rebalance is the date that matters — that is when passive funds must actually sell.
At the time of this announcement, MSTR was trading at $114.51 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $48.3B. The 52-week trading range was $81.81 to $234.84. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Cointelegraph.