What's Going On With MicroStrategy Stock?
Portfolio Pulse from Erica Kollmann
MicroStrategy (NASDAQ:MSTR) shares are trading higher due to a rise in Bitcoin prices. Bitcoin is above $64,000, up over 4% in 24 hours. Jim Cramer advised against buying MSTR shares, suggesting direct Bitcoin investment instead. MSTR holds 214,400 Bitcoin and has a high forward P/E ratio of 1111.11.
May 15, 2024 | 3:07 pm
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MicroStrategy shares are up 5.28% due to Bitcoin's price surge above $64,000. Despite this, Jim Cramer advises against buying MSTR shares, suggesting direct Bitcoin investment. MSTR's high forward P/E ratio and significant Bitcoin holdings are key factors.
The rise in Bitcoin's price directly impacts MicroStrategy's stock due to its significant Bitcoin holdings. However, Jim Cramer's advice against buying MSTR shares may temper investor enthusiasm. The high forward P/E ratio also suggests overvaluation concerns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100