MSCI adopts index exclusion rules that could oust Strategy
Strategy, Metaplanet and Upexi were previously identified for deletion under the methodology, with MSCI set to announce its final list on Nov. 11.
MSCI has introduced new exclusion rules that may result in the removal of Strategy, Metaplanet, and Upexi from its global indexes. The new methodology, proposed in August, defines "non-operating companies" as ineligible for inclusion. Companies like Strategy (MSTR), Metaplanet (SBET), Ton Strategy Company (TONX), Solana Company (HSDT), and DeFi Development Corp. (DFDV) are candidates for removal.
Indices tracking MSCI's Global Investable Market Indexes could face selling pressure if these companies are excluded, potentially impacting stock prices and reducing passive investment demand. MSCI will evaluate companies based on operating assets and five financial ratios, with a failure on at least four of the five tests leading to exclusion.
Companies must fail the screening process over two annual reporting periods before being removed. The final list of companies to be removed will be announced on November 11 and take effect on November 30, 2026.
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