What's Going On With Microstrategy Stock?
Portfolio Pulse from Erica Kollmann
MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading higher, up 7.28% at $491.12, amid a rise in Bitcoin prices. Despite recent gains, MSTR shares have fallen over 22% following the approval of Bitcoin spot ETFs. Bitcoin's price had dropped below $39,000 but has since increased by over 5%. CEO Michael Saylor sold more than 126,000 shares this week, as per SEC filings. MicroStrategy, holding 189,150 Bitcoin, will report Q4 earnings on Feb. 6 with an expected EPS of 55 cents and revenue of $132.9 million.
January 26, 2024 | 9:00 pm
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NEUTRAL IMPACT
MicroStrategy's stock is up due to Bitcoin's price increase, but has experienced a significant drop after Bitcoin ETF approvals. CEO Saylor's share sales and the upcoming Q4 earnings report may influence the stock's short-term performance.
The stock is currently experiencing mixed influences. The positive correlation with Bitcoin's price provides some support, but the recent drop due to Bitcoin ETF approvals and the CEO's share sales could create uncertainty. The upcoming earnings report will be a significant event that could either alleviate or exacerbate current concerns, hence the neutral score.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100