Strategy Stock Drops on S&P 500 Snub. It’s Still a Buy, Analyst Says.

Shares of Strategy were falling Monday after the Bitcoin -treasury pioneer missed out on inclusion in the dashing hopes that would trigger a flow of investments from funds seeking to match the index’s performance. While Strategy, formerly known as MicroStrategy posted a profit last quarter, clearing the final hurdle required for potential inclusion, it didn’t make the cut. The decision won’t have come as a shock to seasoned investors, and it shouldn’t discourage those who have bet on the buzzy cryptocurrency company, argued Benchmark’s Mark Palmer, a longtime fan of the stock.

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