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MicroStrategy ($MSTR) experiences a short squeeze as its market capitalization surpasses $31.85 billion, leading to a 5% increase in its stock price. Short sellers target the company due to its high valuation compared to bitcoin. Kerrisdale Capital takes a short position on MSTR, calling it overvalued.
Our video on MicroStrategy $MSTR pointed to how excessively overvalued the company is relative to the bitcoin it holds. Simple math. The torrent of "you just don't understand bitcoin" Kool Aid drinkers that came around wasn't a surprise. What was a surprise was that not one ofโฆ
Short seller Kerrisdale Capital is betting against $MSTR, calling the stock's premium "unjustifiable." @karenfinerman and @grassosteve debate the strategy. https://t.co/1aRgjD3Yd7
Long BTC / Short MicroStrategy Inc (MSTR): Know When to HODL, Know When to FODL (Kerrisdale Capital) "Assuming the current premium of 2.6x contracts to a more historically consistent 1.3x represents 50% downside in MSTR relative to bitcoin." https://t.co/bTAPBFvQ94 https://t.co/0JcO8URANE
