Strategy’s stock price dipped 4% in after-hours trading yesterday as traders speculated about its removal from the MSCI World Index.

The stock indexation giant announced on Thursday that it will adopt rules removing “non-operating companies” from its Global Investable Market Indexes, including its MSCI World Index that benefits from substantial, passive investment inflows. 

Strategy is the biggest name those rules could remove, and the company’s MSTR common stock immediately traded 4% lower within 20 minutes of the closing bell after news of the rule change disseminated.

The timing of the rule change aligns with MSCI’s November 2026 Index Review, effective as of the close on November 30. Strategy isn’t currently a confirmed removal, it’s specifically named as under threat of removal. 

This is the second fright that Strategy shareholders have had to endure about the MSCI World Index and its passive flows in 2026. Indeed, on January 6, MSCI shelved its first opportunity to remove Strategy from its World Index. 

MSCI’s new methodology works in two steps. A company whose “operating” assets fall short of half of its “total” assets moves to a five-ratio exclusion screening phase.

Because Strategy holds the vast majority of its assets as non-operating, passive BTC investment, the company would be subjected to this screening phase.

Next, if MSCI flags the company on at least four of five “ratios,” a stock becomes ineligible. 

Removal requires failing the screens in each of the two most recent annual filing periods, which can predate the rules’ adoption. 

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