Strategy Could See $2.8B In Outflows If Indices Exclude MSTR

JPMorgan warns that Strategy (MSTR) is at risk of exclusion from major equity indices as MSCI prepares to decide on January 15 whether companies with large digital-asset treasuries belong in its benchmarks. Analysts say the company's market cap is around $59 billion and nearly $9 billion is held in passive index-tracking vehicles, with outflows of $2.8 billion if MSCI removes Strategy and up to $8.8 billion if other index providers follow. The report says the stock has fallen over 60% since last November's high and that its mNAV premium has collapsed to just above 1.1.