MicroStrategy Stock Crashes With Bitcoin: What's Going On?
Portfolio Pulse from Erica Kollmann
MicroStrategy (NASDAQ:MSTR) shares are falling as Bitcoin drops below $50,000, driven by market volatility, geopolitical tensions, and other factors. MicroStrategy holds 226,500 bitcoins, making its stock highly susceptible to Bitcoin's price movements. The stock is set for a 1-for-10 reverse split on Aug. 8. Analysts have a positive outlook with an average 12-month price target of $2181.
August 05, 2024 | 3:23 pm
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MicroStrategy shares are down 9.55% as Bitcoin drops below $50,000. The company's large Bitcoin holdings make it highly susceptible to Bitcoin's price volatility. Analysts have a positive outlook with an average 12-month price target of $2181.
MicroStrategy's stock is highly correlated with Bitcoin's price due to its significant Bitcoin holdings. The recent drop in Bitcoin has led to a 9.55% decline in MSTR shares. Despite this, analysts maintain a positive outlook with a high average price target.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100