MicroStrategy’s stock price is soaring, potentially reaching an explosion if the company enters the Nasdaq 100 on Friday. Thanks to increased Bitcoin purchases, MicroStrategy’s stock price has risen significantly ($411.40) and recently entered the top 100 listed US companies. However, it must be approved by NASDAQ to be listed.
First launched in 1985, the Nasdaq 100 Index is designed to include the top 100 companies in America’s most innovative and fastest-growing industries. The index does not include financial companies, which are included in the Nasdaq Financial 100 instead. This last stipulation is the reason why inclusion on the list is doubtful.
The company’s fate is inevitably tied to Bitcoin’s performance, thus qualifying as a financial company. However, it is currently listed as a technology stock and cannot be reassessed until March. To be included in the Nasdaq 100 index, a company must have a market capitalization in the top 100 largest companies, a daily trading volume exceeding 200,000 shares, and be active in a sector outside the financial sector.
If MicroStrategy is indeed listed, ETFs won’t make adjustments to the new index until December 23, meaning the software developer-turned-crypto investor’s shares could rally for more than a week. MicroStrategy’s stock price has increased by 500% in 2020 due to the significant rise in the price of Bitcoin, which the software developer has more than 400,000 Bitcoins in its inventory, also increasing its value sharply.
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<p>The post MicroStrategy Stock Soars: Will Nasdaq 100 Inclusion Boost Crypto Investor? first appeared on CoinBuzzFeed.</p>
