Citron Research has taken a short position in MicroStrategy , the company said in a post on social media platform X on Thursday.
MicroStrategy's stock surges toward a fourth-straight record, and fourth-straight double-digit gain, as bitcoin continues march toward $100K.
Citing “yield” as a performance measure is likely to confuse some investors already overpaying for its stock.
MicroStrategy stock price continued its strong rally, reaching its all-time high of $503 this week. MSTR has been one of the best-performing companies in Wall Street as it jumped by over 830% in the last 12 months, bringing its market cap to over $87 billion.
MSTR is exhibiting some early signs of a classic climactic top. Climax moves are enjoyable on the way up but always end badly.
Microstrategy Jumps Another 16% on $4.6 Billion Bitcoin Purchase
MicroStrategy (MSTR) shares rocketed higher again Wednesday, as the largest corporate holder of bitcoin reaps the benefits of record high prices for the cryptocurrency.
The board of Acurx Pharmaceuticals has approved the purchase of up to $1 million in bitcoin to hold as a treasury reserve asset.
MicroStrategy increased its convertible-bond offering to $2.6 billion from $1.75 billion. That means more buying of bitcoin by the world's largest corporate holder of the crypto.
Shares of the bitcoin holder are up 11.2% Tuesday to $427.96, continuing its rally with the stock nearly doubling since the Nov. 5 election.
MicroStrategy Inc.'s move to ramp up its bitcoin acquisition effort bodes well for the software company and cryptocurrency play, says analyst firm Benchmark.
Bitcoin is currently less than two percentage points away from reclaiming last week's all-time high of $93,265. At the time of writing, the BTC/USD pair was swapping for $91,700 following a 1.4% morning advance.