What's Going On With MicroStrategy Stock Friday?
Portfolio Pulse from Dylan Berman
MicroStrategy (NASDAQ:MSTR) shares are trading lower on Friday due to a decline in Bitcoin prices. The company reported a significant earnings miss for Q2 2024 and holds 226,500 bitcoins. Other crypto-linked stocks like Coinbase (NASDAQ:COIN) are also affected.
August 02, 2024 | 6:11 pm
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NEGATIVE IMPACT
Coinbase shares are trading lower due to the overall weakness in Bitcoin prices, which affects the broader crypto market.
Coinbase's performance is closely tied to Bitcoin prices and the overall crypto market. A decline in Bitcoin typically leads to a drop in Coinbase's stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
MicroStrategy shares are down due to a decline in Bitcoin prices and a significant Q2 earnings miss. The company holds 226,500 bitcoins, which adds to its volatility.
MicroStrategy's stock is highly correlated with Bitcoin prices due to its large bitcoin holdings. The significant earnings miss further pressures the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100