Strategy stock sheds 5% amid MSCI index removal, Bitcoin sell-off
Strategy shares declined Thursday following MSCI’s decision to remove the company from its indexes, as Bitcoin also fell amid a broader crypto market decline.
Shares of Michael Saylor’s Bitcoin treasury company Strategy fell 6.49% on Thursday, closing at $114.41, a day after MSCI confirmed the company’s removal from its global equity indexes and amid a broader cryptocurrency market sell-off.
On Wednesday, MSCI confirmed that Strategy would be removed from its global equity indexes after the Nov. 30 market close, a move that could trigger selling by funds tracking the benchmarks. JPMorgan previously estimated that the exclusion could result in roughly $2.8 billion in selling pressure.
Source: Yahoo Finance