Today, Bloomberg ETF analysts Eric Balchunas and James Seyfart announced that MicroStrategy (MSTR) is expected to enter the Nasdaq 100 Index (QQQ) later this month on December 23.
$MSTR It is likely to be added to $QQQ On 12/23 (announcement will be made on 12/13). Moderna will likely get the (symbolic) shoe. Here’s my best guess for add-ons/drops via @JSeyff. Its weight is likely to be 0.47% (largest 40 lots). There are $550 billion worth of ETFs that track the index. S&P 500 adds potential next year. pic.twitter.com/rmTavtvWQL
– Eric Balchunas (@EricBalchunas) December 10, 2024
βMicroStrategy will likely enter the Nasdaq 100 on December 23, and we expect net buying of at least $2.1 billion worth of shares by ETFs to follow, equivalent to about 20% of daily volume,β Seyfart said. He explained. βJoining the S&P 500 will be more difficult due to the lack of earnings, although a change in accounting rules surrounding Bitcoin valuations could make MicroStrategy eligible in 2025.β
The net purchase of $2.1 billion would be an additional boost to MSTR, which has already outperformed most major stocks as well as Bitcoin this year β up 450% year-to-date as of writing. MSTR, buoyed by its ongoing Bitcoin acquisition strategy, saw its shares surge to a new all-time high this year for the first time since March 10, 2000.
MSTR has already done so acquired More than 170,000 bitcoins have been minted since announcing its plans to raise $42 billion to buy more bitcoin in late October.
Balchunas said that the official announcement of MSTR’s addition to QQQ is expected to be made on Friday, December 13.
βAgain, this is our best estimate of what will happen,β Balchunas said That’s it. βWe don’t work at Nasdaq. Just so you know!β
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