CoreWeave shares fall more than 9% as debt concerns weigh on AI firms
The cloud-computing company's weekly stock loss approached 23%, while its bond yield briefly exceeded 16% amid concerns over its $50 billion debt load.
Strategy risks MSCI index removal as eligibility rules tighten
Shares fell 2.7% in premarket trading as MSCI prepared to exclude non-operating companies from its global equity benchmarks.
Bitcoin buyer Strategy could lose its place in MSCI's global equity benchmarks under newly adopted eligibility rules. The company previously warned that exclusion would trigger liquidation of $2.8 billion worth of its shares.
MSCI said non-operating companies would become ineligible for its Global Investable Market Indexes effective at the November 30 close. The index provider will identify the companies being removed on November 11 as part of its November review.
Strategy, which belongs to the MSCI USA and MSCI World indexes, fell 2.7% in premarket trading on October 16. Its market value was about $64.3 billion at Thursday's close, and its shares were little changed in 2026.
MSCI has identified Strategy and Japan's Metaplanet as potential deletions. SharpLink and other crypto treasury businesses are being monitored for possible exclusion. Benchmark membership matters because index-tracking funds and other investors must hold constituent shares.
The rules broaden restrictions on passive investment vehicles and require companies to pass financial tests involving operating assets. MSCI's definition of non-operating businesses covers investment funds, business development companies and companies with similar financial characteristics.
MSCI began reviewing digital asset treasury companies a year earlier, arguing that they resembled investment funds already excluded from its indexes. It postponed that proposal in January and widened the review to non-operating companies generally. Strategy did not immediately respond to a request for comment outside business hours.