MicroStrategy's stock fell 11% after Kerrisdale Capital published a report challenging its Bitcoin strategy and valuation.
MicroStrategy's stock fell by over 11% after Kerrisdale Capital, a short-selling investment firm, published a report criticizing the company. Kerrisdale recommended going long on Bitcoin while being short on MicroStrategy, and highlighted that MicroStrategy's shares are currently valued at over $177,000, which is two-and-a-half times the spot price of Bitcoin. The firm also noted that MicroStrategy's original business, software analytics, currently comprises only 3% of its enterprise value.
March 28, 2024
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