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Why Strategy Stock Tumbled on Thursday

TheMotleyFool

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A negative analyst note published before market open on Thursday was the wet blanket that dampened Strategy (NASDAQ: MSTR) stock. The company, now transformed into almost a pure-play Bitcoin investor, saw its shares slump to close the day almost 2% lower in price. That compared unfavorably to the S&P 500, which shed a comparatively modest 0.4%.

The prognosticator who authored the Strategy update was Gus Galá of Monness, Crespi, Hardt. In the note, Galá reiterated his sell recommendation and $175 price target on the company. That's far below the stock's most recent closing price of $337.58.

Image source: Getty Images.

Source Fool.com

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