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MicroStrategy on Track to Become Part of Nasdaq-100
In a significant development, MicroStrategy, the business intelligence firm led by Michael Saylor, is likely to join the highly prestigious Nasdaq-100 index. This move would be a monumental milestone for the company, as it would require ETFs with roughly $350 billion worth of assets under management to invest in its shares.
As reported by U.Today, MicroStrategy has been rapidly rising up the market capitalization charts. In fact, it appeared among the top 100 biggest companies by market cap last year and is now poised to surpass chip giant Intel.
The company’s current stock performance is also noteworthy, as it has seen a significant increase of 2.16% ahead of its expected inclusion in the Nasdaq-100 index. This upward trend suggests that investors are increasingly bullish on MicroStrategy’s prospects.
It is expected that MicroStrategy will join data analytics firm Palantir among newly added companies to the highly coveted index.
Interestingly, this move also raises eyebrows as Bitwise, a leading cryptocurrency index fund manager, recently predicted that Coinbase, the top US crypto exchange, would be included in the S&P 500 index by 2025.
Source: u.today
