MicroStrategy may affect Nasdaq 100 eligibility due to ICB classification

Dec. 12 (Bloomberg) -- MicroStrategy's Nasdaq 100 eligibility may be affected by its ICB classification, Bloomberg analyst James Seyffart predicted. Although the company is currently classified as a technology stock, its share price performance is closely tied to its bitcoin-related financial business, and MicroStrategy Chairman Michael Saylor has said he wants to transform the company into a ‘bitcoin bank. If the ICB reclassifies MicroStrategy as a financial stock, the company could lose its Nasdaq 100 status.

ICB classifications are based on a company's revenue stream, and Nasdaq plans to announce a final decision on 15 December, with the reclassification process expected to begin by the end of January next year. The biggest current risk is that MicroStrategy could be excluded due to the classification issue.