MicroStrategy 'Stretch'-ed it too far with new product launch

MicroStrategy 'Stretch'-ed it too far with new product launch

From thestreet.com

MicroStrategy, now renamed Strategy, made a fresh IPO of 5 million shares of its newest perpetual preferred stock: $STRC, aka “Stretch," on July 21. The offering, led by chief executive Phong Le and executive chairman Michael Saylor, is being sold as a strategic complement to their growing suite of Bitcoin-linked investment products. But the news is already stirring debate online. Crypto commentator RunnerXBT said, "stretch investors bout to have their a**es, stretched," which reflects the more general cynicism on social media that Strategy may be overexposing itself to a bullish Bitcoin by offering more complex ... (full story)

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