Why MicroStrategy tech stock is rallying as it joins the Nasdaq
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MicroStrategy shares increased by 6% in premarket trading as the company is set to join the Nasdaq 100 index, potentially boosting its stock rally.
December 16, 2024 | 5:30 pm
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MicroStrategy's stock rose by 6% in premarket trading due to its inclusion in the Nasdaq 100 index, which could further enhance its stock rally.
The inclusion of MicroStrategy in the Nasdaq 100 index is a significant event that typically leads to increased demand for the stock as index funds and ETFs that track the Nasdaq 100 will need to purchase shares. This can lead to a short-term increase in stock price, as evidenced by the 6% rise in premarket trading.
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