MicroStrategy fails to join S&P 500 index...Stock price drops

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Summary

MicroStrategy failed to join the S&P 500 index, resulting in a decline in its stock price.
It was reported that the drop in Bitcoin and the failure to join the S&P 500 had a negative effect on MicroStrategy’s stock price.
Robinhood also failed to be included in the S&P 500 and saw its stock price decline.

MicroStrategy, which holds the largest amount of Bitcoin (BTC) as a single corporation, has failed to be included in the S&P 500 index.

According to Cointelegraph on the 26th (local time), S&P Grobal announced that MicroStrategy was not included in the S&P 500 index. Previously, MicroStrategy had recently met all the requirements for S&P 500 inclusion, raising expectations that it might join the index as early as September.

Following this news, MicroStrategy’s after-hours stock price also fell. According to Investing.com, MicroStrategy dropped 4.17% the previous day, with an additional 0.13% decline in after-hours trading, reaching $342.

The media commented, “MicroStrategy’s stock price is on a downward trend due to the failure to join the S&P 500 and the decline in Bitcoin.”

In addition, the virtual asset (cryptocurrency) trading platform Robinhood also failed to join the S&P 500. Robinhood’s stock fell by 1.26% on Monday and closed at $107 after a further 0.5% drop in after-hours trading.

BTC