MicroStrategy Slumps 14% After Short Seller Says Stock Trades at an Unjustifiable Premium to Bitcoin [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
MicroStrategy is no longer a unique way to gain access to bitcoin, it said. MicroStrategy's (MSTR) shares fell as much as 14% on Thursday after a prominent short seller, Kerrisdale Capital, said in a report that it is short-selling the stock while betting long on bitcoin {{BTC}}. “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,” the short seller wrote. None of the reasons cited for the stock's relative attractiveness “justify paying well over double for the same coin,” the report said. Software developer MicroStrategy's business model is based on the acquisition and holding of bitcoin, and its crypto stash represents the majority of the company's valuation. The company now holds about 214,246 bitcoins, which is more than 1% of all the 21 million tokens that will ever exist. MicroStrategy's market cap is about $28 billion. Its bitcoin holdings are worth about $15.2 billion.
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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