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Today, Bloomberg ETF analysts Eric Balchunas and James Seyffart introduced that MicroStrategy (MSTR) is predicted 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). Below is finest guess of provides/drops through @JSeyff. Doubtless a 0.47% weight (fortieth largest 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 likely enter the Nasdaq 100 Index on Dec. 23, and we expect net buying of at least $2.1 billion in shares by ETFs to follow, equal to about 20% of daily volume,” Seyffart defined. “Joining the S&P 500 will be tougher because of a lack of profit, though an accounting-rule change surrounding Bitcoin valuations could make MicroStrategy eligible in 2025.”
Web shopping for of $2.1 billion can be an added enhance to MSTR, which has already outperformed most main shares and likewise bitcoin this yr — 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 yr for the primary time since March 10, 2000.
MSTR has already acquired over 170,000 bitcoin since asserting its plans to boost $42 billion to buy extra BTC in late October.
Balchunas acknowledged that the official announcement of MSTR getting added to QQQ is predicted to return this Friday, December 13.
“Again this is our best estimate of what will go down,” Balchunas concluded. “We don’t work at Nasdaq. FYI!”
