MicroStrategy stock tanks with Bitcoin as S&P 500, Nasdaq rally
MSTR shares declined by as much as 12% on Tuesday as the broader U.S. stock market showed signs of strength. Shares of MicroStrategy (MSTR) plunged anew on Tuesday, extending an early week slump on the back of a highly volatile cryptocurrency market that saw Bitcoin (BTC) briefly pierce below $30,000.MSTR touched an intraday low of $513.02 through the early morning session, capping off a 12% decline. Shares of the business intelligence firm collapsed 16.7% on Monday, erasing much of last week’s rally. MSTR shares recovered back above $550 on Tuesday but are still down sharply over the past....
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Microstrategy Inc. is selling up to $1 billion of its common stock, MSTR, with the aim to use some of the net proceeds to buy bitcoin. The Nasdaq-listed company also recently completed a $500 million secured notes offering and will use the proceeds to acquire bitcoins. Selling MSTR Stock to Buy Bitcoin Microstrategy Inc. has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) to launch an “‘at the market’ securities offering for flexibility to sell up to $1 billion of its class A common stock over time,” the company announced....
Nasdaq-listed multibillion-dollar company Microstrategy has purchased more bitcoins. With the latest buy of the cryptocurrency worth $10 million, the company now holds 70,784 bitcoins in its treasury. Microstrategy’s Bitcoin Holdings Rise to 70,784 The Nasdaq-listed Microstrategy (NASDAQ: MSTR), with over $5 billion in market cap, has bought 314 more bitcoins. CEO Michael Saylor announced Friday: Microstrategy has purchased approximately 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808 per bitcoin. We....
MicroStrategy has officially announced its rebranding initiative, adopting the name Strategy. This transition marks a strategic evolution for the company, positioning it as the world’s first and largest Bitcoin Treasury Company while retaining its identity as a leading independent business intelligence firm and a Nasdaq 100 stock. MicroStrategy Rebrands As Strategy According to Microstrategy’s announcement, the […]
MSTR stock has surged by roughly 113% since Dec. 8 when it was downgraded by a Citigroup analyst. On Dec. 8, 2020, Citigroup, one of the largest banks in the world, downgraded MicroStrategy'ss stock (MSTR). Since then, MSTR stock is up 113.27% from $289.45 to $617.31, as the price of Bitcoin (BTC) rallied.In the same period, the Citigroup stock has declined slightly by 0.63%, from $58.36 to $57.99.MicroStrategy stock vs. BTC and Nasdaq. Source: ecoinmetricsWhy has MicroStrategy stock performed so strongly despite the downgrade?MicroStrategy has been investing its treasury holdings in....
Nasdaq-listed Microstrategy has bought more bitcoin for its corporate treasury. The latest purchase for 1,914 coins has raised the company’s total cryptocurrency holdings to 124,391 bitcoins. CEO Michael Saylor recently said that he expects the price of the cryptocurrency to eventually reach $6 million. Microstrategy Has Purchased More Bitcoin The pro-bitcoin Nasdaq-listed company Microstrategy has purchased 1,914 more BTC. With the latest purchase, the company now holds 124,391 bitcoins. Microstrategy CEO Michael Saylor announced Thursday via Twitter: Microstrategy has purchased an....