TechFlow news, December 11 — Bloomberg analyst James Seyffart posted on social media stating that whether MicroStrategy (MSTR) qualifies for inclusion in the Nasdaq-100 may depend on its ICB classification.
If the company's operating business is classified as software-as-a-service, it would be categorized as a technology stock. However, its stock performance is now largely tied to financial engineering driven by its Bitcoin purchases.
Chairman Michael Saylor has expressed his desire to transform MicroStrategy into a "Bitcoin bank." If ICB reclassifies MicroStrategy as a financial stock, it would no longer meet the eligibility criteria for the Nasdaq-100.
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