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Right now, Bloomberg ETF analysts Eric Balchunas and James Seyffart introduced that MicroStrategy (MSTR) is anticipated to enter into the Nasdaq 100 (QQQ) later this month on December 23.
$MSTR is more likely to be added to $QQQ on 12/23 (w/ announcement coming 12/13). Moderna more likely to get boot (symbolic). Beneath is finest guess of provides/drops through @JSeyff. Probably a 0.47% weight (fortieth greatest holding). There’s $550b of ETFs monitoring the index. S&P 500 add subsequent yr prob. pic.twitter.com/rmTavtvWQL
— Eric Balchunas (@EricBalchunas) December 10, 2024
“MicroStrategy will probably enter the Nasdaq 100 Index on Dec. 23, and we anticipate web shopping for of at the least $2.1 billion in shares by ETFs to observe, equal to about 20% of day by day quantity,” Seyffart defined. “Becoming a member of the S&P 500 will likely be more durable due to an absence of revenue, although an accounting-rule change surrounding Bitcoin valuations might make MicroStrategy eligible in 2025.”
Web shopping for of $2.1 billion can be an added increase to MSTR, which has already outperformed most main shares and in addition bitcoin this 12 months — up 450% year-to-date on the time of writing. MSTR, powered by its relentless bitcoin acquisition technique, has seen its inventory skyrocket to a brand new all time excessive this 12 months for the primary time since March 10, 2000.
MSTR has already acquired over 170,000 bitcoin since asserting its plans to lift $42 billion to buy extra BTC in late October.
Balchunas said that the official announcement of MSTR getting added to QQQ is anticipated to return this Friday, December 13.
“Once more that is our greatest estimate of what is going to go down,” Balchunas concluded. “We do not work at Nasdaq. FYI!”