Will Canny is CoinDesk's finance reporter.
Benchmark said if the company reports positive earnings it meets the final condition for S&P 500 inclusion.
MicroStrategy could surprise Wall Street analysts and report better-than-expected earnings if the software company chooses to adopt new accounting standards, a move that means it could qualify for inclusion in America’s most important stock index, the S&P 500, broker Benchmark said in a research report on Thursday.MicroStrategy’s corporate strategy is partly based on the acquisition and holding of bitcoin. As of March 19 it held 214,246 bitcoin worth $13.9 billion at current prices.
Analyst consensus is for MicroStrategy to report a first-quarter 2024 loss per share of $0.55. Benchmark estimates that if the company decides to opt for early adoption of the new standard it could report a gain of more than $300 per share for the quarter. For the index committee to consider a stock for inclusion in the S&P 500 it must also report positive earnings in its most recent quarter. Benchmark notes that MicroStrategy has reported losses in 10 of the past 14 quarters. Early adoption of the new standards means the software company could meet this final criterion.
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