Strategy Stock Price Gets $208 Target Despite MSCI Delisting Threat

Michael Saylor, executive chairman of Strategy (MSTR), stated Bitcoin has bottomed and expects it to surpass $100,000. MSTR bought 250 Bitcoin for $21.5 million, raising holdings to 848,250. The company's average purchase price is $75,444 per Bitcoin. MSTR also repurchased $192.4 million in preferred shares, funded partly by selling common shares. Bitcoin's price impacts MSTR's valuation, with potential gains or losses tied to its performance.

Cantor Fitzgerald raised its price target for MicroStrategy (NASDAQ:MSTR) to $208 from $186, citing gains in bitcoin holdings and updated financial models. The new target is based on a sum-of-the-parts valuation, including a 12-month forward bitcoin price assumption of $112,000. The firm also increased its enterprise value estimate for the company to $110 billion from $97 billion.

Strategy faces potential removal from MSCI's global equity indexes under new rules, impacting billions in passive investments. Shares fell 2.7% premarket. MSCI's decision targets non-operating companies, with Strategy and Metaplanet on the deletion list. Strategy warned of $2.8B stock liquidation if excluded. The company has a market value of $64.3B.

Strategy's stock fell 4% after MSCI announced new rules that could remove it from the MSCI World Index. The change targets 'non-operating companies' and will be finalized in November 2026. Strategy holds mostly non-operating BTC assets, making it a likely candidate for removal. MSCI's decision could trigger significant outflows, with JPMorgan estimating $2.8 billion in potential losses. Strategy's management has lobbied against the removal, calling the rules discriminatory.

U.S. stock futures rose on Friday, with S&P 500 and Nasdaq set for weekly declines. Tesla shares gained 5% premarket after unveiling its Roadster model. Strategy fell 3% due to potential MSCI index exclusion. Netflix dropped 2% following a leadership change. CoreWeave declined 3.8% amid AI sector scrutiny. Cohen & Steers surged 5.8% on strong Q3 inflows. Alcoa gained 2.5% on better-than-expected earnings. Site Centers rose 18.3% after announcing a special dividend and asset sale.

Strategy (MSTR) shares fell 3% premarket after MSCI announced new index eligibility rules that could lead to its removal. The revised criteria focus on financial ratios and operating assets, replacing temporary restrictions on digital asset holdings. MSCI-tracking funds hold about 13 million MSTR shares, or 3.1% of its outstanding shares. The final list of affected companies will be published on 11 November.