Strategy Shares Fall 5.87% as MSCI Eligibility Result Nears

Strategy shares fell 5.87% Wednesday, two days before MSCI’s expected result on proposed eligibility tests that could affect the company’s place in the index provider’s global equity benchmarks. Strategy’s Nasdaq-listed shares closed at $143.24 Wednesday, down $8.94 for the session, at 4 p.m. ET (20:00 UTC). MSCI opened the consultation Aug. 3 to consider eligibility standards for non-operating companies in its Global Investable Market Indexes. Feedback closed Sept. 30. The proposal starts with a screen of a company’s asset mix: operating assets must account for more than half of its total assets to pass. Companies whose operating assets are 50% or less of total assets would then face five financial checks covering asset levels, expenses, cash flow, fair-value changes and outside financing.

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