The post MicroStrategy must perform today for its NASDAQ 100 snapshot appeared on BitcoinEthereumNews.com.

One of the most recognizable indices tracking public companies in the US, the Nasdaq-100, will perform its eligibility snapshot today. Nasdaq’s committee will use trading data through 4pm today in New York to evaluate companies looking to enter the index during its annual rebalancing event, including Michael Saylor’s bitcoin acquisition company, MicroStrategy (MSTR). Today is a significant event for MicroStrategy’s ravenous community of leveraged bitcoin investors who have encouraged the company to gobble up nearly 3% of bitcoin’s supply. At press time, they seem to be doing everything they can to help; MSTR is trading over 6% higher today with a market capitalization exceeding $92 billion. Second only to Standard & Poor’s’ renowned S&P 500 index and besting the popularity of Dow Jones’ antiquating Industrial Average index, the Nasdaq-100 tracks the value of the 100 largest Nasdaq-listed, non-financial companies. Although that final, non-financial requirement has introduced a bit of doubt into the minds of MicroStrategy investors, the company is otherwise well-positioned to qualify for inclusion. MicroStrategy has Nasdaq-100 eligibility but must pass committee review Nasdaq requires constituents of its index to meet Security Eligibility Criteria, and MicroStrategy satisfies almost all of them. MicroStrategy stock has its primary US listing exclusively on the Nasdaq Global Select Market or the Nasdaq Global Market. It has not filed for bankruptcy, nor would it be otherwise ineligible. MicroStrategy has registered 3-month continuous trading on Nasdaq with average daily traded value of at least $5 million. The company has a free float of at least 10%. Its market capitalization ranks well among existing Nasdaq-100-listed companies. Regarding uncertainty of Nasdaq-100’s non-financial requirement, the strict definition offers some solace. Although MicroStrategy’s software business has dwindling importance relative to its seemingly financial services-like business of bitcoin asset management, it is probably not technically classified as a Financial company.…

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Filed under: News - @ November 29, 2024 4:27 pm