Why the S&P 500 committee could deny MSTR inclusion on Friday
The S&P 500 selection committee met yesterday to discuss Strategy (formerly, MicroStrategy). Many investors expect Strategy’s common stock, MSTR, to gain acceptance into the prestigious S&P 500 Index when it announces its decision on Friday, but approval isn’t guaranteed. Michael Saylor’s $96 billion bitcoin (BTC) treasury company looks to have ticked off all items on S&P Dow Jones Indices’ checklist. These include: Having a US domicile and deriving the majority of its revenue from the US Listing its securities — ideally common stock — on a major NYSE, NASDAQ, or CBOE exchange Having a market capitalization ranking in the 85th percentile of the S&P Total Market Index, which is approximately a $23 billion minimum that fluctuates with real-time prices Trading a minimum of 250,000 shares in each of the six months leading up to the evaluation date Ensuring the sum of the its most recent four consecutive quarters of GAAP earnings a...