Bad news!! MSCI has removed Strategy Inc. from its indices during its November 2026 index review, a decision effective November 30th. The reason is that the company failed to pass five tests regarding operating assets under new rules for non-operating companies. Strategy's balance sheet is primarily composed of 850,364 bitcoins, purchased at an average price of $75,000 each, rather than from regular business operations. Analysts expect index funds to sell 13 million shares of Strategy stock, worth approximately $1.6 billion, while JPMorgan estimates outflows could reach as high as $2.8 billion—despite the stock price already falling 17%. While the bitcoin sale is not mandatory, the share price decline could affect Strategy's ability to raise funds for further bitcoin purchases.