MicroStrategy Stock (MSTR) Price Plunges 8% After Latest BTC Buy Amid Fears Of The Firm’s Leveraged Bitcoin Play
The share price of MicroStrategy stock (MSTR) plunged 8% after the firm purchased $209 million worth of Bitcoin (BTC) amid growing concerns of the company’s “leveraged” play. MSTR lost over $27 during yesterday’s trading session, according to data from Google Finance . The bleed continued during after hours trading, with MicroStrategy stock dropping an additional 3%. MicroStrategy Stock Heavily Leveraged Through Convertible Notes And Debt Issuances The Kobeissi Letter shared concerns about MicroStrategy’s proposed 10 billion increase in authorized shares in a Dec. 30 X post. According to the trading resource, MSTR has heavily leveraged itself through a mix of convertible notes and debt issuances. Something doesn't add up here: MicroStrategy, $MSTR, has been known as the most popular "levered" #Bitcoin play of the year. Meanwhile, over the last month Bitcoin has gained +2% while $MSTR is currently down nearly -50%. What is happening? Let us ex...