Bloomberg Analyst: MSTR Not Eligible for Nasdaq 100 Inclusion If ICB Classifies It as a Financial Stock

Bloomberg analyst James Seyffart said in a post on the X platform that Microstrategy's (MSTR) ability to be classified as a Nasdaq 100 may depend on its ICB classification. If the company operates in the software-as-a-service business, that would get it categorised as a tech stock. But its stock performance is now heavily tied to financial engineering, stemming from its purchase of Bitcoin. Chairman Michael Saylor has said he wants to turn MicroStrategy into a ‘bitcoin bank. If the ICB reclassifies MicroStrategy as a financial stock, it will not qualify for the Nasdaq 100.