Why MicroStrategy Stock Is Up Today
Portfolio Pulse from Ryan Gustafson
MicroStrategy Incorporated (NASDAQ:MSTR) shares surged higher after a U.S. judge ruled that Ripple (XRP/USD) sales do not constitute an offer of investment contracts. The legal battle between Ripple and the SEC dates back to 2020. Shares of MSTR were up 11.7% at $462.00 at the time of publication.
July 13, 2023 | 7:54 pm
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MicroStrategy's stock price surged following a favorable ruling for Ripple in its legal battle with the SEC. The company's shares were up 11.7%.
MicroStrategy's stock price surged likely due to its exposure to the cryptocurrency market. The favorable ruling for Ripple, a digital asset, may have increased investor confidence in companies like MicroStrategy that are heavily invested in digital assets.
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