What's Going On With MicroStrategy Shares Wednesday?
Portfolio Pulse from Dylan Berman
MicroStrategy shares are trading higher as Bitcoin surpasses $68,000. The company, holding 252,220 Bitcoin, is influenced by Bitcoin's price changes. Bitcoin ETFs also saw significant inflows. MicroStrategy will release Q3 earnings on Oct. 30, with analysts expecting a revenue of $122.66 million and a loss of 11 cents per share.
October 16, 2024 | 5:08 pm
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MicroStrategy shares are up as Bitcoin surpasses $68,000. The company's large Bitcoin holdings make its stock sensitive to Bitcoin price changes. Upcoming Q3 earnings on Oct. 30 could further impact stock movement.
MicroStrategy's stock is highly correlated with Bitcoin prices due to its significant Bitcoin holdings. As Bitcoin prices rise, MSTR shares tend to follow. The upcoming earnings report could also influence the stock, depending on whether results meet or miss expectations.
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