S&P 500 Snub Deals Major Blow to MicroStrategy’s Bitcoin Ambitions

In a move that stunned market participants, the committee overseeing the S&P Dow Jones Indices rejected MicroStrategy’s inclusion in the benchmark index this past Friday. The business intelligence firm, which recently rebranded as Strategy Inc., was passed over despite meeting all formal technical requirements for admission, including sufficient market capitalization and four consecutive profitable quarters. Instead, the coveted spots were awarded to Robinhood, AppLovin, and Emcor Group.

This exclusion represents a significant setback for the company. Inclusion would have compelled index-tracking funds to purchase its stock, and market experts had projected potential inflows of approximately $16 billion. The disappointment triggered an immediate sell-off, sending the company’s shares tumbling in after-hours trading.

The decision is widely interpreted Read more...