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Nasdaq expected to announce MicroStrategy’s inclusion in Nasdaq-100 today
By Vivian Nguyen
Dec. 13, 2024 – The long-awaited announcement from the Nasdaq has finally arrived, with sources suggesting that MicroStrategy will be included in the highly influential Nasdaq-100 index.
MicroStrategy’s potential inclusion into the prestigious index would have significant implications for its stock price and visibility. As a benchmark for investors seeking exposure to leading US companies driving innovation and growth, the Nasdaq-100 is heavily followed by market participants. The index comprises 100 of the largest non-financial companies listed on the Nasdaq exchange.
Notably, MicroStrategy’s current classification as a software company would need to be upheld in order for it to meet the necessary criteria. If this classification stands, Bloomberg Intelligence estimates that initial net share purchases could reach a staggering $2.1 billion if added to the index. This influx of capital from ETFs like QQQ would significantly boost demand for the stock, often resulting in a rise in its share price.
MicroStrategy’s shares have been on an upward trajectory, with a 2.5% increase over the past 24 hours, according to Yahoo Finance data. Trading above $400 per share, investors are eagerly anticipating the Nasdaq’s announcement this evening at approximately 8 p.m. ET, mirroring last year’s timeline.
It is essential for investors to keep a close eye on these developments, as MicroStrategy’s potential inclusion would be a significant boon for its stock and valuation. The ripple effect could have far-reaching implications across the crypto and tech sectors, warranting careful consideration from market participants.
Stay tuned for further updates on this breaking news.
Source: cryptobriefing.com
