MSCI has proposed new index rules that would screen out "non-operating companies" from its Global Investable Market Indexes.
Strategy ($MSTR) is one of only three companies that would be deleted unde...
If this passes, passive funds tracking MSCI benchmarks get forced sellers on a fixed date, which matters because index inclusion has been part of the bid supporting MSTR's premium to NAV. Worth watching whether S&P and FTSE Russell follow with similar "non-operating company" screens — that's the bigger tail risk since S&P 500 inclusion speculation has been a bigger driver of flows than MSCI.
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