Strategy Shares Fall 4% as MSCI Flags Possible Index Removal

Strategy shares were down 4% at 9:43 a.m. ET (13:43 UTC) Friday after MSCI flagged the bitcoin treasury company for possible removal from its global indexes, putting potential index-related flows in focus.

An earlier snapshot at 5:16 a.m. ET (09:16 UTC) showed the stock down 9.7% at $136.55. The figures are separate observations from Friday, and the 4% decline is an intraday reading rather than a closing result.

MSCI has decided to exclude companies that meet its criteria for non-operating businesses from its global investable market indexes. Strategy is among the companies named for possible removal under the policy, but it has not yet been taken out of the indexes.

The final list is due Nov. 11, and index changes are scheduled to take effect after the close Nov. 30. Until MSCI releases that list, Strategy’s status remains subject to the decision; any removal would put flows tied to the affected indexes in play. The dates leave a review window of less than three weeks before the planned changes take effect.