Why MicroStrategy Stock Rocketed 24.7% Higher This Week
Shares of (NASDAQ: MSTR) jumped 24.7% higher this week, according to data from S&P Global Market Intelligence. The Bitcoin investment company was helped by the cryptocurrency's price appreciation this week along with a convertible debt offering at a 0% interest rate. As of the market close on Friday, Nov. 22, MicroStrategy stock is up 515.7% year to date.
Here's why the stock was rising yet again this week.
Back in 2020, MicroStrategy CEO Michael Saylor made a bold move by taking the company's balance sheet and buying Bitcoin. The bet has paid off handsomely, with the company selling new shares of common stock and taking out debt in order to further accelerate its Bitcoin buys. As of its latest update, MicroStrategy now holds 279,420 Bitcoins.
Source Fool.com
Microstrateg.a New Stock
The stock is one of the favorites of our community with 56 Buy predictions and 2 Sell predictions.
Based on the current price of 84.62 € the target price of 270 € shows a potential of 219.07% for Microstrateg.a New which would more than double the current price.
