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Why MicroStrategy Stock Soared 59% in November
Shares of MicroStrategy (MSTR -1.85%), the cloud software stock that has converted itself into a Bitcoin (BTC -0.29%) treasury stock, were surging last month, benefiting from all-time high Bitcoin prices and the belief that the Trump administration will adopt crypto-friendly policies. As a result, the stock finished the month up 59%, according to data from S&P Global Market Intelligence. Microstrategy's stock tends to trade as a leveraged Bitcoin ETF, which helps explain the stock's volatility over the month. Cryptocurrencies and related stocks soared broadly in the wake of the election as President-Elect Trump had ... (full story)
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- Posted: Dec 3, 2024 5:25am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 137
