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MicroStrategy may lose Nasdaq 100 index qualification due to ICB classification
According to PANews, Bloomberg analyst James Seyffart predicted that MicroStrategy's Nasdaq 100 eligibility may be affected by its ICB classification. Although the company is classified as a technology stock, its stock price is correlated with Bitcoin.
MicroStrategy Chairman Michael Saylor hopes to transform the company into a "Bitcoin bank." If the ICB reclassifies it as a financial stock, the company may lose its Nasdaq 100 index qualification.
ICB classification is based on a company's revenue source. Nasdaq plans to announce its final decision on December 15, and the reclassification process is expected to start before the end of January next year.
MicroStrategy Chairman Michael Saylor hopes to transform the company into a "Bitcoin bank." If the ICB reclassifies it as a financial stock, the company may lose its Nasdaq 100 index qualification.
ICB classification is based on a company's revenue source. Nasdaq plans to announce its final decision on December 15, and the reclassification process is expected to start before the end of January next year.
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