Buy Bitcoin, Short MicroStrategy on Value Gap, Says Kerrisdale [BNN Bloomberg (Canada)]
MicroStrategy Incorporated - Class A (MSTR)
Last microstrategy incorporated - class a earnings: 4/28 04:01 pm
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Source: BNN Bloomberg
as the sizzling run-up in the stock, long considered a Bitcoin proxy, has far outpaced the surge in the digital asset. MicroStrategy rose as much as 3.6% Thursday before paring those gains, while Bitcoin traded back above $70,000. “None of the reasons commonly provided for MicroStrategy's relative attractiveness justify paying well over double for the same coin,” Kerrisdale wrote in a note. “MicroStrategy's trading history and basic common sense suggests the current inflated premium will contract, much as it has on prior occasions, providing a compelling opportunity for a pair trade.” MicroStrategy did not respond to a Bloomberg News request for comment. Read more: MicroStrategy Is Worth More Than Almost Half of S&P 500 Stocks MicroStrategy has been lauded by investors as a proxy for the cryptocurrency because of its strategy of holding the asset as a store of value. This year, MicroStrategy has repeatedly used debt to buy more Bitcoin, helping to bolster the premium its stock
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MSTR
News
- Governments hold a surprising amount of Bitcoin [Yahoo! Finance]Yahoo! Finance
- MicroStrategy Incorporated (NASDAQ: MSTR) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $1,875.00 price target on the stock.MarketBeat
- The 3rd-Largest Bitcoin (BTC) Wallet Bought 1,400 More BTC Last Month [Yahoo! Finance]Yahoo! Finance
- Bitcoin makes gains after ‘halving,' shares of crypto-linked firms soar [Yahoo! Finance]Yahoo! Finance
- Following ‘halving,' Bitcoin makes slight gains as shares of crypto-linked firms soar [Fortune]Fortune
MSTR
Earnings
- 11/1/23 - Miss
MSTR
Sec Filings
- 4/26/24 - Form 4
- 4/25/24 - Form 4
- 4/24/24 - Form 4
- MSTR's page on the SEC website