BlockBeats news, November 12 — MSCI announced the November review results of its global standard indexes, with Strategy (MSTR, formerly MicroStrategy) Class A shares added to the MSCI USA Index deletion list. The adjustment is based on data as of the October 20 price cutoff date and will take effect after the close on November 30.
The adjustment is the implementation of new rules announced by MSCI on October 15. According to the announcement, MSCI will exclude "non-operating companies" identified through quantitative screening from its global investable market indexes: issuers are first assessed for whether they have substantive operating assets, and those that fail are then screened against five financial ratios, with those triggering four or more of them ineligible for inclusion; constituents already in the index must fail the screening in both of the most recent two reporting periods before being removed.
