S&P 500 Rejects Strategy Despite Meeting Eligibility Criteria, JPMorgan Reports
TLDR
- Strategy (formerly MicroStrategy) was rejected from S&P 500 despite meeting technical criteria
- JPMorgan analysts warn this signals caution toward companies functioning as bitcoin funds
- Index committee’s decision affects not just Strategy but similar crypto treasury firms
- Other index providers might reconsider including crypto treasury companies
- Market shows signs of “fatigue” with share prices dropping and funding activity slowing
The S&P 500 index committee’s recent decision to reject Strategy (formerly MicroStrategy) from inclusion in the prestigious index has sent ripples through the cryptocurrency industry.
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» Read more about: Poll: Who owns cryptocurrency? More young people, more men and more Republicans »
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The Burst
Airbnb Has a Ridiculous Business Model
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Read MoreThe Ivy
Market Commentary: What Chipotle’s Bold Move Means For You
Chipotle has managed to do what few food companies ever achieve, keep prices low, win over customers with taste, and maintain high quality offerings. But recently one of those three ingredients was forsaken because the company hiked prices to combat inflation, which has a knock-on effect not only to you and me but to the broader economy.
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