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Why MicroStrategy Stock Jumped Today

TheMotleyFool

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Shares of MicroStrategy (NASDAQ: MSTR) rose on Tuesday after the software company announced plans for its hoard of cash. MicroStrategy has commenced a modified Dutch auction tender offer for its common stock, and it has bought a significant quantity of bitcoins. Shares of MicroStrategy were up about 10.3% at 12:50 p.m. EDT.

MicroStrategy had over $500 million of cash and short-term investments at the end of June. The company previously announced plans to return about half of that to shareholders while investing roughly the same amount in alternative assets.

Image source: Getty Images.

Source Fool.com

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