Strategy Stock Falls Over 5% as MSCI Confirms Index Removal

Strategy Inc. (NASDAQ: MSTR) shares fell about 7% to $114 in Thursday’s regular trading after MSCI confirmed plans to remove the Bitcoin treasury company from several major equity indexes following the November 30 market close. MSCI announced Wednesday that it will remove Strategy’s Class A shares from benchmarks including the MSCI USA and MSCI World indexes. Its official deletion lists also name the company in the MSCI US Prime Market 750 and US Investable Market 2500 indexes. The changes take effect on December 1. The decision follows new eligibility rules MSCI adopted in October for companies classified as non-operating entities. Under the methodology, MSCI first assesses whether a company has substantial operating assets.

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