MicroStrategy trades at 'unjustifiable premium' to bitcoin, says firm shorting company's stock

  • 📰 TheBlock__
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Kerrisdale Capital is short on MicroStrategy's stock and long on spot bitcoin ETFs offered by BlackRock and Fidelity.

Investment firm Kerrisdale Capital has argued in a new research report that MicroStrategy's shares have become overvalued.

In a disclaimer, Kerrisdale Capital said it holds short positions in MicroStrategy stock and will "realize gains" if the company's shares drop in price. Earlier this week, MicroStrategy's shares achieved a new all-time high Tuesday after surpassing $1,900, according to Yahoo Finance. Bitcoin price action. Image: The Block Price Page.

Meanwhile, MicroStrategy has continued to pursue its strategy of stockpiling bitcoin. The company recently announced it held approximately 214,250 bitcoin, about 1% of cryptocurrency’s total supply.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 464. in BUSİNESS

Business Business Latest News, Business Business Headlines