💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

What's Going On With Microstrategy Stock?

Published 26/01/2024, 21:00
© Reuters.  What's Going On With Microstrategy Stock?
MSTR
-
BTC/USD
-

Benzinga - MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading higher Friday amid strength in Bitcoin (CRYPTO: BTC). Here’s a look at what’s going on.

What To Know:

Crypto-related stocks took a hit following the approval of Bitcoin spot ETFs, and Microstrategy shares are down more than 22% in spite of Friday’s gains. The price of Bitcoin even fell below $39,000 earlier this week, however, it is up more than 5% on Friday.

Microstrategy CEO Michael Saylor continues to offload shares of the company and sold more than 126,000 shares this week, according to SEC filings. Microstrategy remains the largest holder of Bitcoin with 189,150 Bitcoin in its portfolio.

Microstrategy is set to report its fourth-quarter earnings after the market close on Feb. 6 and will host a conference call to discuss the results at 5 p.m. ET the same day. According to estimates from Benzinga Pro, the company is expected to report earnings of 55 cents per share and quarterly revenue of $132.9 million.

Related News: What’s Going On With Marathon Digital and Riot Platforms Stock?

MSTR Price Action: According to Benzinga Pro, Microstrategy shares are up 7.28% at $491.12 at the time of publication.

Photo via Shutterstock

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.