Strategy Inc. (MSTR) stock rose more than 3% in Friday premarket trading as crypto-linked stocks gained following new regulatory developments.

Nasdaq futures rose 0.34%, while S&P 500 futures slipped 0.12%.

SEC Move Lifts Crypto-Linked Stocks

Crypto-related stocks moved higher after the Securities and Exchange Commission announced a five-year exemption tied to tokenized stock trading, according to market data.

The Commodity Futures Trading Commission also issued a no-action position covering certain passive software providers that partner with regulated entities.

The regulatory developments helped improve sentiment toward crypto-linked companies. Strategy, which holds Bitcoin as its primary treasury reserve asset, often moves alongside broader cryptocurrency sentiment.

Strategy Tests Key Technical Level

Strategy traded at $136.60, about 5.2% above its 20-day simple moving average of $129.57. The stock was also 24.3% above its 50-day SMA of $109.61.

However, shares remained just below the 200-day SMA of $137.13. That puts the stock near an important long-term technical level.

Momentum signals remain mixed. The MACD is below its signal line, while its histogram is negative. Meanwhile, the 50-day SMA remains below the 200-day SMA.

The stock carries a Buy consensus rating with an average price forecast of $232.82.

MSTR Price Action

Strategy shares rose 3.29% to $136.60 in Friday premarket trading, according to market data.