Why MicroStrategy Stock Fell More Than 20% Last Month
Shares of (NASDAQ: MSTR) dropped 20.7% lower in January 2024, according to data from S&P Global Market Intelligence. In keeping with the business intelligence specialist's recent history, the price move was dictated by rumblings in the Bitcoin (CRYPTO: BTC) market -- but this time, it wasn't about the cryptocurrency's actual price change.
Here, let me explain.
MicroStrategy's January chart relied on the emerging access to exchange-traded funds (ETFs) based on Bitcoin's spot price. Many investors have treated MicroStrategy as the closest thing to a Bitcoin-focused stock since it started converting its cash reserves into direct Bitcoin holdings.
Source Fool.com
Microstrateg.a New Stock
€1,527.0
0.130%
Microstrateg.a New is currently one of the favorites of our community with 11 Buy predictions and no Sell predictions.
As a result the target price of 1730 € shows a slightly positive potential of 13.29% compared to the current price of 1527.0 € for Microstrateg.a New.
