MicroStrategy may join Nasdaq 100 later this month, which is a list of many Nasdaq listed companies that are not financial.
Nasdaq’s spokesperson informed me that changes to the Index would be made tonight, at 8 pm ET. On Dec. 23, adjustments will be made.
Analysts say that MicroStrategy appears to have a market cap of around $95 billion, which is sufficient for the inclusion criteria.
Bloomberg Intelligence analyst James Seyffart noted in a recently published research note that Nasdaq’s committee decision might be influenced by MSTR’s ICB status. The company’s performance on the stock market is largely influenced by its financial engineering, which stems from buying bitcoins. “financial” It remains to see what stock is (and who’s ineligible).
Lance Vitanza, TD Cowen’s analyst, said he would not be surprised if MSTR was excluded from the Nasdaq100. He noted that its software operating business set it apart.
Benchmark’s Mark Palmer said the stock — already up 480% this year — could see another boost as Nasdaq 100 inclusion would enable MSTR to benefit from giant passive funds (like Invesco’s QQQ) buying blocks of shares.
Vitanza isn’t sure that inclusion in the index will cause a price increase. It would expand the number of investors who could provide capital to the company, Vitanza said.
On Monday, TD Cowen analysts increased their target price for the stock to $550 from $525. MSTR shares are currently trading for $397.
“If they were to be kept out of the index,” I was told by him. “that would not change our view of the stock one iota.”
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