Robinhood rises 6% after S&P 500 Inclusion, strategy agreed

Robinhood rises 6% after S&P 500 Inclusion, strategy agreed

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Robinhood Markets Inc. (Hood) rose by 6% at trade after being added to the S&P 500 stock index, while Michael Saylor’s Strategy Inc. (MSTR) missed the inclusion criteria of the index despite meeting.

The S&P 500 changes will take effect on September 22. Currently, only two other crypto-linked companies, Coinbase (Coin) and Block (XYZ), are mentioned in the index.

Robinhood is a digital trading platform with growing crypto ambitions. The crypto company generated a turnover of $ 160 million in the second quarter this year, or 16% of the total. Crypto turnover fell from $ 252 million in the previous quarter.

Strategy shares plunge

Strategy almost 3% fell on the market after hours, so that the monthly loss was brought to more than 12%, according to To Google Finance.

MSTR STORY CARE (Source: Google Finance))

Strategy snob Come after the leading Bitcoin Treasury Company had posted one of the strongest quarters in its history, with $ 10 billion in net income.

‘Why not $ mstrer allowed in the S&P 500 index despite meeting all criteria? “Bloomberg ETF analyst Eric Balchunas asked in one Post on X. “Because the ‘committee’ said no. You have to realize that SPX is essentially an active fund that is run by a secret committee.”

Nasdaq’s new position on Crypto -Schatkists, not a matter, says Strategy

Strategy remains stated on Nasdaq, an exchange that is tightened up For companies that use debt financing to buy crypto, there is a move that pioneered strategy.

By one report According to the information earlier this week, Nasdaq started to require shareholders votes for some deals and also insists on more disclosures. This can cause the index to suspend trade or even some companies that do not comply with, according to the report, that insiders cited who are familiar with the issue.

Strategy responded to the news on X and said that the new position of Nasdaq on the formations of digital assets does not affect the strategy, its ATMs or other capital market activities.

The tightening review comes after a wave of new companies began to attract capital from investors by selling shares to grow a crypto treasure box. Since the start of the year, 154 have announced plans listed by the US to pick up around $ 98.4 billion to buy crypto.

Strategy is the leading Crypto -Schat box company with 636,505 BTC worth $ 70.57 billion on its balance, according to facts From Bitbo. The most recent purchase of the company was on 2 September, when the company bought 4,048 BTC for $ 449.3 million.

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