Strategy Inc. (formerly MicroStrategy) stock has traded near $136–$152 in mid-October 2026, down sharply on October 16 amid MSCI’s adoption of new index-eligibility rules that could exclude the company from global equity benchmarks by late November due to its limited operating business. The shares remain tightly linked to Bitcoin, which has hovered around $81,000–$82,000, while Strategy continues accumulating BTC—now holding 848,250 coins at an average cost near $75,444 per token—funded partly through at-the-market equity sales. Upcoming catalysts include third-quarter earnings scheduled for October 29 and an investor webinar, with analyst price targets clustered around $200–$255. Trader sentiment reflects Bitcoin’s near-term direction, potential passive-fund outflows from any index removal, and the company’s ongoing capital-markets activity to support further treasury purchases.