Palantir, MicroStrategy, Axon Stocks Fall on Their First Day in Nasdaq 100

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Key Takeaways

• Shares of Palantir Technologies, MicroStrategy, and Axon Enterprise traded lower in their first day on the Nasdaq 100 Measure.
• The Nasdaq announced Dec. 13 that the three would join the index before today’s start of trading as share of its annual reconstitution.
• MicroStrategy also gave an update on its previously announced stock sale and increased purchases of bitcoin.

It hasn’t been a close kickoff for the newest members of the Nasdaq 100 Index.

Shares of Palantir Technologies (PLTR), MicroStrategy (MSTR), and Axon Spirit (AXON) all began the session trading lower on their first day of being included in the prestigious index. 

The Nasdaq divulged on Dec. 13 that the three would be part of its index before today’s opening bell as part of its annual reconstitution.

MicroStrategy Updates Selection Sale, Buys More Bitcoin

Also weighing on MicroStrategy shares was the company’s update on a stock sale it promulgated Oct. 30, aimed at raising up to $21 billion, and a new bitcoin (BTC) purchase. It noted in a regulatory filing that between Dec. 16-22, it had pushed about 1.3 million shares, valued at $561 million. MicroStrategy added that approximately $7.08 billion of splits remained available for purchase.

The largest corporate holder of the cryptocurrency also reported that from Dec. 16-22, it had generate the same amount to acquire an additional 5,262 bitcoins. The average price was $106,662, close to the cryptocurrency’s all-time record. 

MicroStrategy explained that as of Sunday, it owned 444,262 BTC. 

Despite today’s selloff, shares of Palantir Technologies and MicroStrategy accept skyrocketed 360% and 445%, respectively, this year, while Axon Enterprise shares have jumped 140%.