MSCI will announce its November index adjustment list at 6:00 AM Beijing time on November 12th. Whether MSTR will remain in the relevant indices will also be revealed. PS: If removed, the adjustment will be implemented after the market closes on November 30th. In fact, Strategy itself stated in its Q3 financial report that MSTR would be removed from MSCI according to MSCI's new non-operating company screening criteria. This was already expected. For MSTR, the most direct impact is that funds tracking the relevant indices will need to adjust their holdings, potentially selling MSTR before and after the adjustment, putting pressure on the share price. Stelgery estimates that funds tracking these MSCI indices hold approximately 13 million shares of MSTR, equivalent to about 60% of the company's average daily trading volume over the 30 days at the time. After MSTR is removed, these shares will most likely be gradually liquidated. This will obviously put greater pressure on the price of MSTR. Moreover, things aren't going to go smoothly. If MSTR's share price continues to decline, raising the same amount of money through the sale of common stock will require issuing more shares, increasing dilution for existing shareholders. This could impact future fundraising or the acquisition of bitcoin:native. In simpler terms, if MSTR is removed from the MSCI index, investment institutions that passively bought shares after its inclusion will likely sell. This selling will put downward pressure on the price, and the resulting price drop will affect MSTR's fundraising capabilities, especially given the current weak price of Bitcoin. The market has likely already anticipated this; the remaining question is how passive funds will sell off their holdings. @Gate, for more market information.