A short seller says it's buying bitcoin and betting against MicroStrategy because the stock trades at an 'unjustifiable' premium over the crypto itself [Yahoo! Finance]
MicroStrategy Incorporated - Class A (MSTR)
Last microstrategy incorporated - class a earnings: 4/28 04:01 pm
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Source: Yahoo! Finance
The short seller said in a report that MicroStrategy is trading at a premium valuation of $177,000 per bitcoin. "As is often the case with crypto, things have gotten carried away," Kerrisdale Capital said. Investors looking to gain exposure to bitcoin should buy a spot bitcoin ETF rather than betting on MicroStrategy stock, according to a short report from Kerrisdale Capital. The investment firm said it was shorting MicroStrategy stock and buying bitcoin as an arbitrage trade to capitalize on the "unjustifiable premium" valuation that MicroStrategy trades at relative to bitcoin. According to Kerrisdale Capital's calculations, MicroStrategy trades at a valuation of $177,000 per bitcoin it owns. "Shares of MicroStrategy have soared amid a recent rise in the price of bitcoin but, as is often the case with crypto, things have gotten carried away," Kerrisdale Capital said. "The days when MicroStrategy shares represented a rare, unique way to gain access to bitcoin are long over.
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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