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MicroStrategy's stock ($MSTR) has seen significant activity with its market capitalization reaching a new all-time high of $31.85 billion. Short sellers are targeting the company, with Kerrisdale Capital taking a short position, calling the stock overvalued compared to Bitcoin. The stock has experienced fluctuations, with shares down 13.8% after Kerrisdale's move. Analysts are debating the stock's premium over Bitcoin, with some suggesting a potential downside for MSTR relative to Bitcoin.
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