Stock Story -
What Happened?
Shares of business analytics software company MicroStrategy (NASDAQ:MSTR) jumped 6.7% in the morning session after stocks exposed to the cryptocurrency market soared as momentum improved. Notably, Bitcoin, the most popular crypto asset, is set to edge past the $70,000 level, a move that could clear the way for a retest of the all-time high of $73,000 achieved in March 2024. Also, with roughly a week until the U.S. 2024 elections, markets anticipate a potential regulatory review of the crypto space when a new administration is elected. Overall, the sentiment suggests markets are itching for a change.Is now the time to buy MicroStrategy? Find out by reading the original article on StockStory, it’s free.
What The Market Is Telling Us
MicroStrategy’s shares are extremely volatile and have had 84 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.MicroStrategy is up 263% since the beginning of the year, and at $248.79 per share, has set a new 52-week high. Investors who bought $1,000 worth of MicroStrategy’s shares 5 years ago would now be looking at an investment worth $17,017.