What's Going On With MicroStrategy Stock?

MicroStrategy Incorporated MSTR shares are trading higher Friday on continued upward momentum. The stock is up more than 330% year-to-date.

What To Know:

MicroStrategy CEO, Michael Saylor, said in an interview with Bloomberg on Tuesday that he believes MicroStrategy stock will remain attractive to investors even if the SEC approves a spot Bitcoin BTC/USD ETF.

“We can take advantage of intelligent leverage,” Saylor said. “We can borrow money at zero percent interest for many many years, and we did that with the convert, and we can use that to buy Bitcoin.”

BTIG analyst Mark Palmer maintained MicroStrategy with a Buy and raised the price target from $560 to $690 on Monday.

According to data from Benzinga Pro, MicroStrategy shares are trading well-above the stock's 50-day moving average of $480.58, and the stock set a new 52-week intraday high of $612.59 Friday.

MSTR Price Action: According to data from Benzinga Pro, MicroStrategy shares are up by 4.7% at $609.36 at the time of publication.

Image: Artista Digital from Pixabay

Market News and Data brought to you by Benzinga APIs

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