MicroStrategy to join Nasdaq 100, QQQ ETF following 500% rally this year

MicroStrategy will officially join the Nasdaq-100 index, largely made up of technology companies, off the back of its stock’s nearly 500% year-to-date rally in price. The largest corporate owner of Bitcoin, MSTR will join the index on Dec. 23 alongside data firm Palantir and taser maker Axon Enterprise, replacing biotech stocks Moderna and Illumina and server producer Super Micro Computer. Several large ETFs will then buy the stock, including the popularly-traded QQQ ETF, leading to over $2 billion in buys, according to one analyst.