MicroStrategy Stock (NASDAQ:MSTR), Trade Ideas

MicroStrategy

MicroStrategy Inc is a provider of enterprise analytics and mobility software. It offers MicroStrategy Analytics platform that delivers reports and dashboards and enables users to conduct ad hoc analysis and share insights through mobile devices or the Web; MicroStrategy Server, which provides analytical processing and job management. The company's reportable operating segment is engaged in the design, development, marketing, and sales of its software platform through licensing arrangements and cloud-based subscriptions and related services.

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MicroStrategy (NASDAQ:MSTR) executive chairman Michael Saylor in an interview discussed the unique advantages that MicroStrategy has 

Michael Saylor Summarizes Why MicroStrategy Is Superior To Bitcoin ETFs

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Analyst reaffirms Buy for MSTR with $1875 target. Company&#39;s bitcoin strategy led to 10x stock increase, but ASC 350 caused impairment losses.

MicroStrategy&#39;s Accounting Problem For Bitcoin Poses Profit Conundrum - Analyst Lays Out Answers

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MicroStrategy Incorporated - Class A Common Stock

MicroStrategy Inc

MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman Michael Saylor in an interview discussed the unique advantages that MicroStrategy has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38461105/bitcoin-could-soar-up-to-1m-says-strike-ceo-jack-mallers-violent-to-the-upside">over its competitors</a>.
What Happened: According to Saylor, MicroStrategy can, unlike ETFs, leverage its stock, offer options and issue convertible debt.
Thanks to its operational flexibility and financial instruments, MicroStrategy thus enjoys a unique advantage over Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETFs.
&#8220;ETFs got approved and people thought, oh, ETFs are approved. That may not be good for you because you&#8217;re trading in a premium. But in fact, the opposite was true because we have a lot of Bitcoin and we&#8217;re an operating company,&#8221; Saylor <a href="https://www.youtube.com/watch?v=bUfVLzNdOyc&amp;embeds_referring_euri=https%3A%2F%2Ftwitter.com%2F&amp;source_ve_path=Mjg2NjY&amp;feature=emb_logo">explained</a> in an interview. 
MicroStrategy&#8217;s approach involves using its corporate structure to enhance investor returns on Bitcoin investments. 
The company's strategy includes issuing convertible debt which appeals particularly to convertible arbitrage investors looking for volatility, liquidity, and transparency. 
This allows investors to hedge out exposure while benefiting from potential upside in Bitcoin&#8217;s value. MicroStrategy has been aggressive in its Bitcoin acquisitions, reinforcing its commitment to not only hold but also increase its Bitcoin holdings.
Saylor noted, &#8220;We&#8217;re levered Bitcoin. With a passionate shareholder base—120 to 140, 150 something, but more than 100 in volatility. If you know the Black-Scholes equation, if you plug volatility in, it makes the option more valuable.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38439393/a16z-crypto-cto-slams-memecoins-but-are-they-the-real-threat">a16z Crypto CTO Slams Memecoins, But Are They The Real Threat?</a>
Moreover, the ability to issue debt and equity offers MicroStrategy a way to raise capital without the immediate sell-off risks associated with ETFs, which are typically arbitrated back to net asset value. 
&#8220;They really can&#8217;t trade at a premium. They can&#8217;t issue convertible debt,&#8221; Saylor added, contrasting MicroStrategy&#8217;s capabilities with the limitations faced by Bitcoin ETFs.
MicroStrategy has also capitalized on its operational capabilities to attract a diverse range of investors—from public company investors seeking Bitcoin exposure to Bitcoin maximalists looking to invest their 401(k) savings in a crypto-linked asset. 
The flexibility offered by the company's financial maneuvers allows it to cater to investors who desire to leverage Bitcoin's potential through various financial products.
Saylor's strategies highlight a proactive approach to using corporate finance tools to bolster investment in Bitcoin, providing a blueprint for how companies can effectively operate within the crypto space. 
What&#8217;s Next: This innovative approach will be a topic of interest at the upcoming Benzinga&#8217;s <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19, where financial experts will discuss the evolving landscape of digital asset investments and the innovative financial strategies companies like MicroStrategy are employing to <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38437196/this-famous-buy-bitcoin-sign-netted-an-intern-1m">maximize their returns in the cryptocurrency sector</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38441774/consensys-sues-sec-over-ethereum-classification-calls-for-regulatory-clarity">Consensys Sues SEC Over Ethereum Classification, Calls For Regulatory Clarity</a>
Image: Shutterstock

Benchmark&nbsp;analyst Mark Palmer reiterated&nbsp;MicroStrategy Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) with a Buy and a&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/MSTR/analyst-ratings" rel="noreferrer noopener">$1875&nbsp;price target</a>.
Since adopting its bitcoin acquisition strategy in August 2020, MicroStrategy has seen its share price increase by more than 10x, a performance that during that span significantly outpaced the returns of bitcoin, the major stock indices, commodities such as gold, and&nbsp;big&nbsp;tech stocks, Palmer&nbsp;said.&nbsp;
At the same time, MSTR, since it started to hold bitcoin on its balance sheet, recorded $2.269 billion in cumulative impairment losses due to a Financial Accounting Standards Board (FASB) rule (ASC 350) that has required the company to account for its bitcoin holdings as indefinite-lived intangible assets, and to treat any decline in their carrying value during a given quarter due to a drop in bitcoin&#8217;s price as an impairment loss, the analyst stated.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/04/38209040/microstrategys-winning-streak-how-bitcoin-holdings-sparked-a-1-92b-blow-to-short-sellers" rel="noreferrer noopener">MicroStrategy&#8217;s Winning Streak: How Bitcoin Holdings Sparked a $1.92B Blow to Short&nbsp;Sellers</a>
Under ASC 350, MSTR and other firms that hold bitcoin on their balance sheets cannot reverse those impairment losses in subsequent quarters if the price of bitcoin increases, the analyst said.&nbsp;
As such, MSTR&#8217;s unadjusted earnings&nbsp;got a hit&nbsp;during quarters when its bitcoin holdings lost value, with no offsetting gains during quarters when they increased in value.&nbsp;
MSTR Executive Chairman Michael Saylor described this cost-less-impairment model as &#8220;punitive,&#8221;&nbsp;and&nbsp;the company loudly advocated for FASB to adopt new accounting guidance that would enable it to reflect the value of its bitcoin holdings&nbsp;better, the analyst highlighted.&nbsp;
That new guidance emerged on December 13, 2023, when FASB issued ASU 202308.&nbsp;
This standard requires companies that hold certain crypto assets (including bitcoin) on their balance sheets to measure them at fair value, with period-over-period changes in fair value recorded in net income in each reporting period, Palmer said.&nbsp;
Bitcoin holding firms that adopt the new standard can recognize both gains and losses on their holdings.&nbsp;
While ASU 2023-08 is effective as of January 1, 2025, early adoption of the standard is allowed in the interim, provided that the firms adopting it do so as of the beginning of their fiscal year, including the interim period.&nbsp;
A few dozen bitcoin-holding companies have adopted ASU 2023-08 early.&nbsp;
With MSTR scheduled to release its first-quarter 2024 report after the market close on Monday, April 29, investors&nbsp;are divided&nbsp;on whether the company will also choose early adoption.&nbsp;
The impact of doing so on MSTR&#8217;s reported earnings per share would be massive: the company, in its 2023 10-K report, estimated that early adoption would increase its 2024 beginning retained earnings balance by ~$3.1 billion, Palmer said.&nbsp;&nbsp;
While the Street estimates that MSTR will report a first-quarter 2024 loss per share of $(0.55) (Palmer&#8217;s estimate calls for a loss per share of $(0.46)), he estimates that the company could report a gain of more than $300 per share during the quarter&nbsp;by&nbsp;electing early adoption of the standard.&nbsp;
However, Palmer noted that the tax implications associated with adoption could cause MSTR to hold off on electing that option.
MicroStrategy&nbsp;stock gained 327% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust SkyBridge Crypto Industry And Digital Economy ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRPT#NYSE">CRPT</a>) and&nbsp;Advisor Managed Portfolios Miller Value Partners Appreciation ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MVPA#NYSE">MVPA</a>).
Price Action: MSTR shares traded lower by 1.24% at $1,249.95 on the last check Thursday.
Photo Courtesy: JOCA_PH On Shutterstock

MicroStrategy's Accounting Problem For Bitcoin Poses Profit Conundrum - Analyst Lays Out Answers

In the latest quarter, 7 analysts provided ratings for MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), showcasing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $1740.0, a high estimate of $1875.00, and a low estimate of $1450.00. This current average reflects an increase of 57.47% from the previous average price target of $1105.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1714060874_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive MicroStrategy. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Mark Palmer</td>
<td>Benchmark</td>
<td>Maintains</td>
<td>Buy</td>
<td>$1875.00</td>
<td>-</td>
</tr>
<tr>
<td>Mark Palmer</td>
<td>Benchmark</td>
<td>Raises</td>
<td>Buy</td>
<td>$1875.00</td>
<td>$990.00</td>
</tr>
<tr>
<td>Andrew Harte</td>
<td>BTIG</td>
<td>Raises</td>
<td>Buy</td>
<td>$1800.00</td>
<td>$780.00</td>
</tr>
<tr>
<td>Joseph Vafi</td>
<td>Canaccord Genuity</td>
<td>Maintains</td>
<td>Buy</td>
<td>$1810.00</td>
<td>-</td>
</tr>
<tr>
<td>Lance Vitanza</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$1450.00</td>
<td>$1560.00</td>
</tr>
<tr>
<td>Lance Vitanza</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Outperform</td>
<td>$1560.00</td>
<td>$1220.00</td>
</tr>
<tr>
<td>Joseph Vafi</td>
<td>Canaccord Genuity</td>
<td>Raises</td>
<td>Buy</td>
<td>$1810.00</td>
<td>$975.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to MicroStrategy. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering a comprehensive view, analysts assess stocks qualitatively, spanning from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of MicroStrategy compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of MicroStrategy's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into MicroStrategy's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/MSTR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on MicroStrategy analyst ratings.</a>
<h2>Discovering MicroStrategy: A Closer Look</h2>
MicroStrategy Inc is a provider of enterprise analytics and mobility software. It offers MicroStrategy Analytics platform that delivers reports and dashboards and enables users to conduct ad hoc analysis and share insights through mobile devices or the Web; MicroStrategy Server, which provides analytical processing and job management. The company's reportable operating segment is engaged in the design, development, marketing, and sales of its software platform through licensing arrangements and cloud-based subscriptions and related services.
<h3>Unraveling the Financial Story of MicroStrategy</h3>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Decline in Revenue: Over the 3 months period, MicroStrategy faced challenges, resulting in a decline of approximately -6.09% in revenue growth as of 31 December, 2023. This signifies a reduction in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: MicroStrategy's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 71.6%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): MicroStrategy's ROE stands out, surpassing industry averages. With an impressive ROE of 5.93%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): MicroStrategy's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 2.19%, the company may face hurdles in achieving optimal financial returns.
Debt Management: MicroStrategy's debt-to-equity ratio stands notably higher than the industry average, reaching 1.04. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Where MicroStrategy Stands With Analysts

Benchmark analyst Mark Palmer reiterates MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) with a Buy and maintains $1875 price target.

Benchmark Reiterates Buy on MicroStrategy, Maintains $1875 Price Target

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Shares of crypto-related stocks are trading lower amid a pullback in the price of Bitcoin.

Whales with a lot of money to spend have taken a noticeably bearish stance on MicroStrategy.
Looking at options history for MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) we detected 27 trades.
If we consider the specifics of each trade, it is accurate to state that 29% of the investors opened trades with bullish expectations and 40% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $407,273 and 17, calls, for a total amount of $1,592,410.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $980.0 to $3800.0 for MicroStrategy over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
In today's trading context, the average open interest for options of MicroStrategy stands at 168.38, with a total volume reaching 182.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in MicroStrategy, situated within the strike price corridor from $980.0 to $3800.0, throughout the last 30 days.
<h3>MicroStrategy 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713966428_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$487.55</td>
<td>$470.0</td>
<td>$478.8</td>
<td>$1350.00</td>
<td>$478.8K</td>
<td style="text-align: right;">70</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$33.0</td>
<td>$30.0</td>
<td>$33.0</td>
<td>$1350.00</td>
<td>$330.0K</td>
<td style="text-align: right;">268</td>
<td style="text-align: right;">127</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$535.0</td>
<td>$530.0</td>
<td>$535.0</td>
<td>$1200.00</td>
<td>$214.0K</td>
<td style="text-align: right;">162</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$535.0</td>
<td>$530.0</td>
<td>$535.0</td>
<td>$1200.00</td>
<td>$107.0K</td>
<td style="text-align: right;">162</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$359.05</td>
<td>$354.0</td>
<td>$354.0</td>
<td>$980.00</td>
<td>$106.2K</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
</tr>
</tbody>
</table>

<h3>About MicroStrategy</h3>
MicroStrategy Inc is a provider of enterprise analytics and mobility software. It offers MicroStrategy Analytics platform that delivers reports and dashboards and enables users to conduct ad hoc analysis and share insights through mobile devices or the Web; MicroStrategy Server, which provides analytical processing and job management. The company's reportable operating segment is engaged in the design, development, marketing, and sales of its software platform through licensing arrangements and cloud-based subscriptions and related services.
<h3>Present Market Standing of MicroStrategy</h3>
<ul>
<li>With a trading volume of 50,026, the price of MSTR is down by -1.56%, reaching $1317.79.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 5 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for MicroStrategy</h3>
In the last month, 3 experts released ratings on this stock with an average target price of $1828.3333333333333.
<ul>
<li>Consistent in their evaluation, an analyst from BTIG keeps a Buy rating on MicroStrategy with a target price of $1800. </li>
<li>An analyst from Benchmark persists with their Buy rating on MicroStrategy, maintaining a target price of $1875. </li>
<li>In a cautious move, an analyst from Canaccord Genuity downgraded its rating to Buy, setting a price target of $1810. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest MicroStrategy options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

What the Options Market Tells Us About MicroStrategy

The Bitcoin market is notoriously concentrated among the top holders. The largest wallets hold a huge portion of the supply. And with the increase in institutional adoption, information about some of these top holders is becoming more accessible.&nbsp;
Firms such as MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) have amassed billions of dollars of <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment">Bitcoin (BTC)</a>, which they then report on financial disclosures. This has allowed the public to connect <a href="https://www.benzinga.com/money/what-is-blockchain/">blockchain</a> activity with specific companies, allowing for an unprecedented level of transparency. However, the blockchain still allows for some anonymity, even among some of the largest wallets.
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<a href="https://bitinfocharts.com/bitcoin/address/bc1ql49ydapnjafl5t2cp9zqpjwe6pdgmxy98859v2">One notable wallet</a> that is still anonymous first began acquiring Bitcoin in May 2023. The wallet continued to buy tens of thousands of BTC throughout the summer of 2023 and eventually accumulated over 120,000 tokens.&nbsp; At the time, BTC was trading for around $30,000, so the position was worth around $3.6 billion.
On Jan. 5, the wallet acquired another 10,000 BTC. This transaction, which cost over $300 million, brought the total wallet balance to over $5.5 billion. The timing is notable, as the approval of spot exchange-traded funds (ETFs) occurred on Jan. 10 and has served as a huge price catalyst in 2024.
The wallet did not make any notable transactions until March when transactions totaling 7,750 BTC were made. The transactions brought the total value of the portfolio to over $9 billion, which occurred around the time BTC reached new all-time highs (ATHs).&nbsp;
Finally, in early April, the wallet acquired an additional 1,400 BTC for around $100 million. The recent transactions have allowed the wallet to reach a balance of over 136,000 BTC, currently worth over $9 billion. Of the $9 billion, $5.6 billion is profit.&nbsp;
Trending: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019,<a href="https://www.benzinga.com/money/etoro-doge"> here&#8217;s how much you&#8217;d have today</a>.
Who owns the wallet? Why have they been accumulating billions in BTC? Let's consider some possibilities.
One of the more interesting theories about the wallet is that it serves as a custodial wallet for a <a href="https://www.benzinga.com/money/where-to-buy-spot-bitcoin-etfs">spot Bitcoin ETF</a>. This would make sense, as the wallet began acquiring tokens last year, potentially in anticipation of the approval of the ETFs. Additional transactions in January and the past two months also add to this hypothesis. The wallet's $9 billion in BTC would be enough to support ETFs such as the ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>), Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>), VanEck Bitcoin Trust ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/HODL#BATS">HODL</a>) and Invesco Galaxy Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BTCO#BATS">BTCO</a>).&nbsp;
A less exciting possibility would be that the wallet is simply a large investor. In this case, the investor may have thought that Bitcoin was at relative lows last summer and began buying. While the investment has been very profitable, the size of the wallet and the amount invested signal that it is likely an institution behind the wallet.&nbsp;
There is a chance that the wallet is from an ETF sponsor, based on the amount and timeline. However, it could also be an individual or an institution that made a timely investment.&nbsp;
Read Next:
<ul>
<li>About 22% of the adult population in the U.S. own a share of Bitcoin,<a href="https://www.benzinga.com/money/kraken"> how much would $10 get you today</a>?</li>
<li>The<a href="https://www.benzinga.com/money/kraken-2"> last-standing top crypto exchange without a major security breach</a> offers what now?</li>
</ul>
<figure class="wp-block-image aligncenter size-full"><a href="https://www.benzinga.com/events/digital-assets"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/28172612/905735A6-57D3-4874-9AA1-75D037842DB3.gif" alt="crypto digital assets" class="wp-image-269852" /></a></figure>

MARA

RIOT

Shares of crypto-related stocks are trading higher following the Bitcoin halving.

MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares are trading higher Monday amid a rise <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38358590/bitcoins-next-move-after-the-halving-technical-analysis-foresees-these-2-scenarios">in the price of Bitcoin. </a>
The Details:
Bitcoin completed its fourth halving event last Friday and is currently trading up 1.56% over the last 24 hours.&nbsp;
Microstrategy CEO Michael Saylor sees the halving as a catalyst for the price of bitcoin due to decreased selling pressure which will allow the price to go up.&nbsp;
&#8220;You're going to see $12 billion of natural selling per year converted into $6 billion of natural selling per year,&#8221; Saylor said.&nbsp;
Microstrategy holds more than 214,000 bitcoin, equal to more than 1% of <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38274675/heres-how-much-bitcoin-you-need-to-become-a-millionaire-according-to-michael-saylor">the entire supply</a>, with an average purchase price of approximately $35,000. Most recently, the company used a $700 million convertible bond offering to purchase more Bitcoin in March.  
Related News: <a href="https://www.benzinga.com/news/24/04/38341107/whats-going-on-with-nvidias-stock">What&#8217;s Going On With Nvidia&#8217;s Stock?</a>
MSTR Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Microstrategy shares are up 12% at $1,314.75 at the time of publication Monday.
Image: Reto Scheiwlliier from Pixabay

Movers

Why MicroStrategy Stock Is Climbing

Shares of Vaxxinity, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VAXX#NASDAQ">VAXX</a>) fell sharply during Monday's session after the company announced its intention to voluntarily delist and deregister its Class A common stock.
Vaxxinity shares dipped 54.8% to $0.2150 on Monday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Matterport, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTTR#NASDAQ">MTTR</a>) shares jumped 184% to $4.93. CoStar Group announced plans to acquire Matterport in a cash and stock transaction valued at $5.50 per share reflecting an estimated $1.6 billion value.</li>
<li>NewGenIvf Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIVF#NASDAQ">NIVF</a>) climbed 126% to $1.67 after the company signed a non-binding term sheet for a potential reverse merger with European Wellness Investment Holdings.</li>
<li>Moolec Science SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLEC#NASDAQ">MLEC</a>) shares climbed 88.4% to $2.5950 after the company announced that it received USDA approval for plant-grown animal proteins.</li>
<li>Tungray Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRSG#NASDAQ">TRSG</a>) gained 48.8% to $5.95 after surging around 49% on Friday. The company priced its IPO at $4 per share.</li>
<li>SuperCom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCB#NASDAQ">SPCB</a>) shares gained 46% to $0.3212 after the company reported better-than-expected fourth-quarter results.</li>
<li>AGBA Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGBA#NASDAQ">AGBA</a>) climbed 42% to $1.7742.</li>
<li>Edible Garden AG Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EDBL#NASDAQ">EDBL</a>) jumped 39% to $5.23 after the company announced it regained compliance with the Nasdaq bid price requirement.</li>
<li>POET Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POET#NASDAQ">POET</a>) jumped 29.8% to $1.35.</li>
<li>Graphjet Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTI#NASDAQ">GTI</a>) climbed 27.6% to $8.61. Graphjet Technology&#8217;s Tham Choi Kuen, CFO, announced the decision to resign due to health reasons, effective immediately.</li>
<li>Assure Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONM#NASDAQ">IONM</a>) rose 25% to $0.55 after dipping more than 30% on Friday.</li>
<li>Smart for Life, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMFL#NASDAQ">SMFL</a>) climbed 23% to $4.13.</li>
<li>Jaguar Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAGX#NASDAQ">JAGX</a>) gained 23% to $0.1936.</li>
<li>WANG &amp; LEE GROUP, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WLGS#NASDAQ">WLGS</a>) climbed 21.7% to $0.73. Wang &amp; Lee Group, last week, reported a year-over-year increase in FY23 financial results.</li>
<li>Onfolio Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONFO#NASDAQ">ONFO</a>) climbed 20.8% to $0.52.</li>
<li>Complete Solaria, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSLR#NASDAQ">CSLR</a>) shares gained 17.4% to $0.5281 amid recent volatility in the stock. Chairman T.J. Rodgers said he converted $5 million of his CSLR debt to equity as an indication of his belief in the company.</li>
<li>NKGen Biotech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKGN#NASDAQ">NKGN</a>) climbed 14.8% to $1.2750.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) gained 11.2% to $1,305.56 amid a rise in Bitcoin.</li>
<li>Sea Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) gained 10.4% to $60.79 after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $62 to $70.</li>
<li>Ingevity Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGVT#NYSE">NGVT</a>) rose 8.7% to $48.30. Jefferies analyst Daniel Rizzo upgraded Ingevity from Hold to Buy and raised the price target from $52 to $62.</li>
<li>Riot Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) rose 7.9% to $9.85 amid a rise in Bitcoin.</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) gained 6.5% to $224.72 amid a rise in Bitcoin.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Hepion Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEPA#NASDAQ">HEPA</a>) fell 40.4% to $1.2515 after the company announced that it began wind-down activities in its Phase 2b &#8220;ASCEND-NASH Trial.</li>
<li>Akso Health Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AHG#NASDAQ">AHG</a>) fell 26.2% to $0.7001.</li>
<li>Warrantee Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRNT#NASDAQ">WRNT</a>) fell 24.2% to $0.3223. Warrantee announced receipt of Nasdaq delisting determination and plan to appeal.</li>
<li>Bio-Path Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPTH#NASDAQ">BPTH</a>) fell 22.3% to $3.3350. Bio-Path recently announced closing of $1.2 million registered direct offering priced at-the-market under Nasdaq rules.</li>
<li>Inhibikase Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IKT#NASDAQ">IKT</a>) dipped 19.5% to $1.64.</li>
<li>Jin Medical International Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZJYL#NASDAQ">ZJYL</a>) fell 18.8% to $3.1502</li>
<li>Indonesia Energy Corporation Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/INDO#NYSE">INDO</a>) shares declined 15.4% to $4.25 after gaining 23% on Friday. Indonesia Energy, last month, filed for mixed shelf offering of up to $50 million.</li>
<li>Virgin Galactic Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NYSE">SPCE</a>) fell 14% to $0.7357. Virgin Galactic recently announced it is considering a reverse stock split with a range between 1-for-2 and 1-for-20.</li>
<li>Sunshine Biopharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFM#NASDAQ">SBFM</a>) shares fell 13.7% to $1.5250 after dipping 47% on Friday. Sunshine Biopharma's Nora Pharma received Health Canada approval for Niopeg.</li>
<li>Mobile-health Network Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNDR#NASDAQ">MNDR</a>) fell 11.9% to $24.01. Mobile-health Network Solutions said it sees 1H revenue of $6 million versus $3 million year over uear.</li>
<li>Connexa Sports Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYAI#NASDAQ">YYAI</a>) fell 10.9% to $1.2515.</li>
<li>AgriFORCE Growing Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGRI#NASDAQ">AGRI</a>) declined 9.7% to $0.1480 after gaining 9% on Friday. AgriForce Growing Systems was granted Australian patent number 2018215090 titled &#8220;High Fiber, High Protein, Low Carbohydrate Flour, Sweetened Liquid, Sweeteners, Cereals, And Methods For Production Thereof.&#8221;</li>
<li>Energy Fuels Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUUU#NYSE">UUUU</a>) declined 9.7% to $5.26. Energy Fuels entered into definitive scheme implementation deed with Base Resources for the acquisition of all issued shares for A$375 million.</li>
<li>Tellurian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NASDAQ">TELL</a>) dipped 9.6% to $0.4478.</li>
<li>Applied Optoelectronics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) fell 9.5% to $10.96. Applied Optoelectronics is expected to release financial results for its first quarter ended March 31, 2024 on May 9, 2024.</li>
<li>FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) fell 9.3% to $0.8023.</li>
<li>Mingteng International Corporation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTEN#NASDAQ">MTEN</a>) fell 6.5% to $3.45 after gaining over 5% on Friday. Mingteng International, last week, priced its IPO at $4.00 per share.</li>
<li>Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) fell 6.2% to $24.74. Shares of Chinese EV stocks traded lower after Tesla reduced vehicle prices in China.</li>
<li>Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 3.2% to $142.24 after the company reduced vehicle prices in the US, Germany and China.</li>
</ul>
Also Read: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38355230/how-to-earn-500-a-month-from-azz-stock-ahead-of-q4-earnings">How To Earn $500 A Month From AZZ Stock Ahead Of Q4 Earnings</a>

Intraday Update

AAOI

AGBA

AGRI

BPTH

CSLR

EDBL

FCEL

HEPA

INDO

IONM

JAGX

MLEC

MNDR

MTEN

MTTR

NGVT

NIVF

NKGN

ONFO

POET

SBFM

SMFL

SPCB

SPCE

TELL

TRSG

UUUU

VAXX

WLGS

WRNT

Connexa Sports Technologies Inc. - Common Stock

YYAI

ZJYL

Why Vaxxinity Shares Are Trading Lower By Around 55%? Here Are Other Stocks Moving In Monday's Mid-Day Session

In the dynamic and cutthroat world of business, conducting thorough company analysis is essential for investors and industry experts. In this article, we will undertake a comprehensive industry comparison, evaluating MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and its primary competitors in the Software industry. By closely examining key financial metrics, market position, and growth prospects, our aim is to provide valuable insights for investors and shed light on company's performance within the industry.
<h3>MicroStrategy Background</h3>
MicroStrategy Inc is a provider of enterprise analytics and mobility software. It offers MicroStrategy Analytics platform that delivers reports and dashboards and enables users to conduct ad hoc analysis and share insights through mobile devices or the Web; MicroStrategy Server, which provides analytical processing and job management. The company's reportable operating segment is engaged in the design, development, marketing, and sales of its software platform through licensing arrangements and cloud-based subscriptions and related services.
<table>
<thead>
<tr>
<th>Company</th>
<th>P/E</th>
<th>P/B</th>
<th>P/S</th>
<th>ROE</th>
<th>EBITDA (in billions)</th>
<th>Gross Profit (in billions)</th>
<th>Revenue Growth</th>
</tr>
</thead>
<tbody>
<tr>
<td>MicroStrategy Inc</td>
<td>44.49</td>
<td>9.58</td>
<td>39.24</td>
<td>5.93%</td>
<td>$-0.04</td>
<td>$0.1</td>
<td>-6.09%</td>
</tr>
<tr>
<td>Salesforce Inc</td>
<td>64.37</td>
<td>4.40</td>
<td>7.63</td>
<td>2.46%</td>
<td>$2.75</td>
<td>$7.14</td>
<td>10.77%</td>
</tr>
<tr>
<td>Adobe Inc</td>
<td>44.42</td>
<td>13.48</td>
<td>10.68</td>
<td>3.88%</td>
<td>$1.21</td>
<td>$4.59</td>
<td>11.32%</td>
</tr>
<tr>
<td>SAP SE</td>
<td>53.49</td>
<td>4.46</td>
<td>6.23</td>
<td>3.05%</td>
<td>$2.32</td>
<td>$6.2</td>
<td>5.02%</td>
</tr>
<tr>
<td>Intuit Inc</td>
<td>61.84</td>
<td>10.02</td>
<td>11.37</td>
<td>2.08%</td>
<td>$0.6</td>
<td>$2.53</td>
<td>11.34%</td>
</tr>
<tr>
<td>Synopsys Inc</td>
<td>56.37</td>
<td>11.68</td>
<td>12.93</td>
<td>7.01%</td>
<td>$0.53</td>
<td>$1.32</td>
<td>21.15%</td>
</tr>
<tr>
<td>Cadence Design Systems Inc</td>
<td>73.34</td>
<td>22.43</td>
<td>18.68</td>
<td>9.94%</td>
<td>$0.41</td>
<td>$0.96</td>
<td>18.75%</td>
</tr>
<tr>
<td>Workday Inc</td>
<td>48.39</td>
<td>8.24</td>
<td>9.21</td>
<td>16.16%</td>
<td>$0.24</td>
<td>$1.46</td>
<td>16.75%</td>
</tr>
<tr>
<td>Roper Technologies Inc</td>
<td>41.95</td>
<td>3.28</td>
<td>9.29</td>
<td>2.26%</td>
<td>$0.72</td>
<td>$1.13</td>
<td>12.76%</td>
</tr>
<tr>
<td>Autodesk Inc</td>
<td>51.67</td>
<td>24.97</td>
<td>8.51</td>
<td>16.9%</td>
<td>$0.35</td>
<td>$1.34</td>
<td>3.89%</td>
</tr>
<tr>
<td>Palantir Technologies Inc</td>
<td>227.44</td>
<td>13.03</td>
<td>21.14</td>
<td>2.8%</td>
<td>$0.11</td>
<td>$0.5</td>
<td>19.61%</td>
</tr>
<tr>
<td>Datadog Inc</td>
<td>857.79</td>
<td>19.68</td>
<td>19.76</td>
<td>2.82%</td>
<td>$0.07</td>
<td>$0.48</td>
<td>25.62%</td>
</tr>
<tr>
<td>Ansys Inc</td>
<td>56.21</td>
<td>5.22</td>
<td>12.40</td>
<td>5.29%</td>
<td>$0.37</td>
<td>$0.74</td>
<td>15.99%</td>
</tr>
<tr>
<td>AppLovin Corp</td>
<td>68.16</td>
<td>17.63</td>
<td>7.38</td>
<td>14.58%</td>
<td>$0.37</td>
<td>$0.68</td>
<td>35.73%</td>
</tr>
<tr>
<td>PTC Inc</td>
<td>89.10</td>
<td>7.51</td>
<td>9.68</td>
<td>2.42%</td>
<td>$0.16</td>
<td>$0.44</td>
<td>18.09%</td>
</tr>
<tr>
<td>Zoom Video Communications Inc</td>
<td>28.72</td>
<td>2.28</td>
<td>4.05</td>
<td>3.87%</td>
<td>$0.2</td>
<td>$0.87</td>
<td>2.56%</td>
</tr>
<tr>
<td>Tyler Technologies Inc</td>
<td>103.96</td>
<td>5.83</td>
<td>8.84</td>
<td>1.34%</td>
<td>$0.09</td>
<td>$0.21</td>
<td>6.35%</td>
</tr>
<tr>
<td>Bentley Systems Inc</td>
<td>52.46</td>
<td>17.81</td>
<td>14.20</td>
<td>22.81%</td>
<td>$0.05</td>
<td>$0.24</td>
<td>8.26%</td>
</tr>
<tr>
<td>NICE Ltd</td>
<td>43.87</td>
<td>4.23</td>
<td>6.25</td>
<td>2.49%</td>
<td>$0.19</td>
<td>$0.42</td>
<td>9.61%</td>
</tr>
<tr>
<td>Manhattan Associates Inc</td>
<td>80.25</td>
<td>50.07</td>
<td>15.26</td>
<td>19.96%</td>
<td>$0.06</td>
<td>$0.13</td>
<td>20.27%</td>
</tr>
<tr>
<td>Dynatrace Inc</td>
<td>68.79</td>
<td>7.02</td>
<td>9.89</td>
<td>2.3%</td>
<td>$0.05</td>
<td>$0.3</td>
<td>22.74%</td>
</tr>
<tr>
<td>Average</td>
<td>108.63</td>
<td>12.66</td>
<td>11.17</td>
<td>7.22%</td>
<td>$0.54</td>
<td>$1.58</td>
<td>14.83%</td>
</tr>
</tbody>
</table>
<style>
 table {
 width: 100%;
 border-collapse: collapse;
 font-family: Arial, sans-serif;
 font-size: 14px;
 }

 th, td {
 padding: 8px;
 text-align: left;
 }

 th {
 background-color: #293a5a;
 color: #fff;
 text-align: left;
 }

 tr:nth-child(even) {
 background-color: #f2f4f8;
 }

 tr:hover {
 background-color: #e1e4ea;
 }

 td:nth-child(3), td:nth-child(5) {
 text-align: left;
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 .dividend-amount {
 font-weight: bold;
 color: #0d6efd;
 }

 .dividend-frequency {
 font-size: 12px;
 color: #6c757d;
 }
 </style>After examining MicroStrategy, the following trends can be inferred: 
<ul>
<li>
At 44.49, the stock's Price to Earnings ratio is 0.41x less than the industry average, suggesting favorable growth potential.
</li>
<li>
Considering a Price to Book ratio of 9.58, which is well below the industry average by 0.76x, the stock may be undervalued based on its book value compared to its peers.
</li>
<li>
The Price to Sales ratio of 39.24, which is 3.51x the industry average, suggests the stock could potentially be overvalued in relation to its sales performance compared to its peers.
</li>
<li>
With a Return on Equity (ROE) of 5.93% that is 1.29% below the industry average, it appears that the company exhibits potential inefficiency in utilizing equity to generate profits.
</li>
<li>
With lower Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $-40 Million, which is -0.07x below the industry average, the company may face lower profitability or financial challenges.
</li>
<li>
The company has lower gross profit of $100 Million, which indicates 0.06x below the industry average. This potentially indicates lower revenue after accounting for production costs.
</li>
<li>
The company's revenue growth of -6.09% is significantly lower compared to the industry average of 14.83%. This indicates a potential fall in the company's sales performance.
</li>
</ul>
<h3>Debt To Equity Ratio</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713798045_0.png" alt="debt to equity" />
The debt-to-equity (D/E) ratio indicates the proportion of debt and equity used by a company to finance its assets and operations.
Considering the debt-to-equity ratio in industry comparisons allows for a concise evaluation of a company's financial health and risk profile, aiding in informed decision-making.
When examining MicroStrategy in comparison to its top 4 peers with respect to the Debt-to-Equity ratio, the following information becomes apparent:
<ul>
<li>
In the context of the debt-to-equity ratio, MicroStrategy holds a middle position among its top 4 peers.
</li>
<li>
This indicates a moderate level of debt relative to its equity with a debt-to-equity ratio of 1.04, which implies a relatively balanced financial structure with a reasonable debt-equity mix.
</li>
</ul>
<h3>Key Takeaways</h3>
For MicroStrategy in the Software industry, the PE and PB ratios suggest the company is undervalued compared to its peers. However, the high PS ratio indicates a premium valuation based on revenue. In terms of ROE, EBITDA, gross profit, and revenue growth, MicroStrategy lags behind its industry peers, indicating lower profitability and growth potential.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Assessing MicroStrategy's Performance Against Competitors In Software Industry

U.S. stocks were higher, with the Nasdaq Composite gaining over 100 points on Monday.
Shares of Matterport, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTTR#NASDAQ">MTTR</a>) rose sharply <a href="https://www.benzinga.com/quote/MTTR/news">during Monday's session</a>.
CoStar Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) announced plans to acquire Matterport in a cash and stock transaction valued at $5.50 per share reflecting an estimated $1.6 billion value.
Matterport shares climbed 184% to $4.93 on Monday.
Here are some other big stocks recording gains in today's session.
<ul>
<li>Graphjet Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTI#NASDAQ">GTI</a>) surged 27.6% to $8.61. Graphjet Technology&#8217;s Tham Choi Kuen, CFO, announced the decision to resign due to health reasons, effective immediately.</li>
<li>Adlai Nortye Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANL#NASDAQ">ANL</a>) gained 12.1% to $13.90.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares climbed 11.2% to $1,305.56 amid a rise in Bitcoin.</li>
<li>Sea Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) surged 10.4% to $60.79 after B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $62 to $70.</li>
<li>Ingevity Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGVT#NYSE">NGVT</a>) climbed 8.7% to $48.30. Jefferies analyst Daniel Rizzo upgraded Ingevity from Hold to Buy and raised the price target from $52 to $62.</li>
<li>KB Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KB#NYSE">KB</a>) surged 8.2% to $50.01.</li>
<li>Riot Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) gained 7.9% to $9.85 amid a rise in Bitcoin.</li>
<li>Guardant Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GH#NASDAQ">GH</a>) climbed 7.9% to $17.31. The Molecular and Clinical Genetics Panel of the U.S. FDA Medical Devices Advisory Committee is scheduled to review the premarket approval application for the company&#8217;s Shield&#x2122; blood test for colorectal cancer (CRC) screening on May 23, 2024.</li>
<li>Lexeo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXEO#NASDAQ">LXEO</a>) rose 6.7% to $12.86 as the company announced a license agreement to accelerate development of LX2006 for the treatment of friedreich ataxia cardiomyopathy.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) gained 6.5% to $1.7550</li>
<li>Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) shares rose 6.5% to $224.72 amid a rise in Bitcoin.</li>
<li>Critical Metals Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRML#NASDAQ">CRML</a>) gained 6.2% to $8.60.</li>
<li>Fresenius Medical Care AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMS#NYSE">FMS</a>) rose 5.4% to $20.60.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/24/04/38356135/wall-streets-most-accurate-analysts-views-on-3-defensive-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Defensive Stocks Delivering High-Dividend Yields</a>

CRML

CSGP

LXEO

LXRX

Matterport, Sea Limited, Ingevity And Other Big Stocks Moving Higher On Monday

Shares of crypto-related stocks are trading higher amid a rise in Bitcoin.

These seven large-cap stocks were the worst performers last week. Are they in your portfolio?
<ol>
<li>Arm Holdings plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) was the worst large-cap stock performer last week, plummeting 31.08%. The company fell alongside ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>), which reported worse-than-expected <a href="https://www.benzinga.com/news/24/04/38299189/whats-going-on-with-arm-holdings-stock" target="_blank" rel="noreferrer noopener">first-quarter FY24 results last week</a>. Exane BNP Paribas analyst David O&#8217;Connor downgraded ARM from <a href="https://www.benzinga.com/quote/ARM/analyst-ratings" target="_blank" rel="noreferrer noopener">&#8220;Outperform&#8221; to &#8220;Neutral&#8221;</a> with a $100 price target.</li>
<li>MicroStrategy Inc&#8217;s&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock lost 20.07% last week. Most crypto stocks fell last week due to the volatility in Bitcoin (CRYPTO: BTC/USD) price.</li>
<li>Coinbase Global Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) stock lost 15% last week due to weakness in Bitcoin&#8217;s (CRYPTO: BTC/USD) price. Economist and crypto skeptic Peter Schiff&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38265256" rel="noreferrer noopener">expressed skepticism</a>&nbsp;regarding the apex crypto blasting off in line with predictions by some bulls.</li>
<li>Prologis, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) declined 13.73% as the company&#8217;s first quarter FY24 rental revenue of $1.83 billion missed the consensus and lowered the FY24 outlook for EPS and core FFO/share due to anticipated lower <a href="https://www.benzinga.com/news/earnings/24/04/38292399/why-prologis-shares-are-trading-lower-today" target="_blank" rel="noreferrer noopener">average occupancy and competitive leasing</a>.</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 13.6% last week. The Elon Musk-led company had a tough week on <a href="https://www.benzinga.com//node/38346490" target="_blank" rel="noreferrer noopener">multiple counts</a>. It faces falling EV demand, a Cybertruck recall, employee layoffs, and price cuts.</li>
<li>Equifax Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) stock decreased 13.54%. The company reported worse-than-expected first-quarter sales results and issued adjusted&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38333254/equifax-analysts-cut-their-forecasts-after-q1-results" rel="noreferrer noopener">guidance below estimates on Wednesday</a>.</li>
<li>Bruker Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKR#NASDAQ">BRKR</a>) has had a tough week, losing 11.90% in value after announcing NanoString Technologies&#8217;s acquisition&nbsp;for $392.6 million in cash.</li>
<li>Live Nation Entertainment, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYV#NYSE">LYV</a>) was down 11.76%. The company&#8217;s shares took a hit following a report indicating the Justice Department will file an antitrust&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38265894/live-nation-entertainment-groupon-and-other-big-stocks-moving-lower-in-tuesdays-pre-market-session" rel="noreferrer noopener">lawsuit against the company</a>.</li>
<li>Arista Networks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) fell 10.69% last week. Recently, a Rosenblatt analyst <a href="https://www.benzinga.com//node/38220808" target="_blank" rel="noreferrer noopener">double-downgraded the stock to &#8220;Sell&#8221;</a> with a $210 price target.</li>
<li>J.B. Hunt Transport Services, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) fell 10.47% as its first-quarter FY24 earnings missed consensus estimates due to lower segment&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38287679/why-j-b-hunt-transport-shares-are-diving-today" rel="noreferrer noopener">gross revenue and fewer loads</a>. Several analysts lowered&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/JBHT/analyst-ratings" rel="noreferrer noopener">price targets on the stock</a>&nbsp;following the earnings miss.</li>
<li>Albemarle Corp&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALB#NYSE">ALB</a>) stock shed 9% in value last week due to lithium price volatility.</li>
</ol>
See Also: <a href="https://www.benzinga.com/news/earnings/24/04/38349264/tracking-last-weeks-top-performers-are-these-7-large-cap-stocks-in-your-portfolio">Tracking Last Week&#8217;s Top Performers: Are These 7 Large-Cap Stocks In Your Portfolio?</a>
Photo: Shutterstock

ANET

ASML

BRKR

JBHT

Last Week's Worst-Performing Stocks: Are These 11 Large-Cap Stocks In Your Portfolio?

Deep-pocketed investors have adopted a bullish approach towards MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MSTR usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 44 extraordinary options activities for MicroStrategy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 54% leaning bullish and 45% bearish. Among these notable options, 19 are puts, totaling $1,152,826, and 25 are calls, amounting to $1,292,679.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $910.0 and $3800.0 for MicroStrategy, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in MicroStrategy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to MicroStrategy's substantial trades, within a strike price spectrum from $910.0 to $3800.0 over the preceding 30 days.
<h3>MicroStrategy 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713535432_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/03/24</td>
<td>$26.95</td>
<td>$20.85</td>
<td>$26.33</td>
<td>$1700.00</td>
<td>$263.3K</td>
<td style="text-align: right;">67</td>
<td style="text-align: right;">1</td>
</tr>
<tr>
<td>MSTR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$2555.25</td>
<td>$2541.35</td>
<td>$2555.25</td>
<td>$3750.00</td>
<td>$255.5K</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>MSTR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$109.8</td>
<td>$100.0</td>
<td>$106.15</td>
<td>$1350.00</td>
<td>$106.1K</td>
<td style="text-align: right;">200</td>
<td style="text-align: right;">7</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/26/24</td>
<td>$41.6</td>
<td>$31.55</td>
<td>$39.41</td>
<td>$1400.00</td>
<td>$103.4K</td>
<td style="text-align: right;">216</td>
<td style="text-align: right;">42</td>
</tr>
<tr>
<td>MSTR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$96.0</td>
<td>$91.75</td>
<td>$96.0</td>
<td>$1150.00</td>
<td>$96.0K</td>
<td style="text-align: right;">123</td>
<td style="text-align: right;">10</td>
</tr>
</tbody>
</table>

<h3>About MicroStrategy</h3>
MicroStrategy Inc is a provider of enterprise analytics and mobility software. It offers MicroStrategy Analytics platform that delivers reports and dashboards and enables users to conduct ad hoc analysis and share insights through mobile devices or the Web; MicroStrategy Server, which provides analytical processing and job management. The company's reportable operating segment is engaged in the design, development, marketing, and sales of its software platform through licensing arrangements and cloud-based subscriptions and related services.
Having examined the options trading patterns of MicroStrategy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Where Is MicroStrategy Standing Right Now?</h3>
<ul>
<li>With a volume of 223,365, the price of MSTR is up 3.38% at $1249.0. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 10 days.</li>
</ul>
<h3>Professional Analyst Ratings for MicroStrategy</h3>
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1828.3333333333333.
<ul>
<li>An analyst from Benchmark persists with their Buy rating on MicroStrategy, maintaining a target price of $1875. </li>
<li>Maintaining their stance, an analyst from BTIG continues to hold a Buy rating for MicroStrategy, targeting a price of $1800. </li>
<li>Reflecting concerns, an analyst from Canaccord Genuity lowers its rating to Buy with a new price target of $1810.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for MicroStrategy with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Looking At MicroStrategy's Recent Unusual Options Activity

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$850.00</td>
<td>$32.8K</td>
<td>10.8K</td>
<td>50.6K</td>
</tr>
<tr>
<td>MRVL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$72.50</td>
<td>$185.7K</td>
<td>13.3K</td>
<td>10.7K</td>
</tr>
<tr>
<td>AAPL</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/26/24</td>
<td>$165.00</td>
<td>$113.5K</td>
<td>7.7K</td>
<td>6.2K</td>
</tr>
<tr>
<td>BSY</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$50.00</td>
<td>$26.4K</td>
<td>4.0K</td>
<td>3.5K</td>
</tr>
<tr>
<td>SMCI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$990.00</td>
<td>$144.8K</td>
<td>642</td>
<td>1.2K</td>
</tr>
<tr>
<td>TSM</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/26/24</td>
<td>$135.00</td>
<td>$49.0K</td>
<td>1.2K</td>
<td>1.1K</td>
</tr>
<tr>
<td>CRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$275.00</td>
<td>$46.5K</td>
<td>821</td>
<td>459</td>
</tr>
<tr>
<td>AKAM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$100.00</td>
<td>$39.7K</td>
<td>3.1K</td>
<td>437</td>
</tr>
<tr>
<td>SNOW</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$125.00</td>
<td>$55.4K</td>
<td>3.4K</td>
<td>235</td>
</tr>
<tr>
<td>MSTR</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/19/24</td>
<td>$1250.00</td>
<td>$240.0K</td>
<td>465</td>
<td>209</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a call option sweep with bullish sentiment. It expires in 1 day(s) on April 19, 2024. Parties traded 45 contract(s) at a $850.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $32.8K, with a price of $730.0 per contract. There were 10827 open contracts at this strike prior to today, and today 50621 contract(s) were bought and sold. 
• Regarding MRVL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>), we observe a call option sweep with bullish sentiment. It expires in 92 day(s) on July 19, 2024. Parties traded 509 contract(s) at a $72.50 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $185.7K, with a price of $365.0 per contract. There were 13399 open contracts at this strike prior to today, and today 10774 contract(s) were bought and sold. 
• Regarding AAPL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), we observe a put option sweep with bearish sentiment. It expires in 8 day(s) on April 26, 2024. Parties traded 700 contract(s) at a $165.00 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $113.5K, with a price of $163.0 per contract. There were 7711 open contracts at this strike prior to today, and today 6283 contract(s) were bought and sold. 
• For BSY (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>), we notice a call option sweep that happens to be bullish, expiring in 29 day(s) on May 17, 2024. This event was a transfer of 60 contract(s) at a $50.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $26.4K, with a price of $440.0 per contract. There were 4040 open contracts at this strike prior to today, and today 3536 contract(s) were bought and sold. 
• For SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we notice a call option sweep that happens to be bearish, expiring in 1 day(s) on April 19, 2024. This event was a transfer of 181 contract(s) at a $990.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $144.8K, with a price of $800.0 per contract. There were 642 open contracts at this strike prior to today, and today 1206 contract(s) were bought and sold. 
• For TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we notice a put option trade that happens to be neutral, expiring in 8 day(s) on April 26, 2024. This event was a transfer of 100 contract(s) at a $135.00 strike. The total cost received by the writing party (or parties) was $49.0K, with a price of $490.0 per contract. There were 1247 open contracts at this strike prior to today, and today 1122 contract(s) were bought and sold. 
• Regarding CRM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), we observe a put option sweep with bearish sentiment. It expires in 1 day(s) on April 19, 2024. Parties traded 100 contract(s) at a $275.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $46.5K, with a price of $465.0 per contract. There were 821 open contracts at this strike prior to today, and today 459 contract(s) were bought and sold. 
• For AKAM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>), we notice a call option sweep that happens to be bearish, expiring in 274 day(s) on January 17, 2025. This event was a transfer of 29 contract(s) at a $100.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $39.7K, with a price of $1370.0 per contract. There were 3139 open contracts at this strike prior to today, and today 437 contract(s) were bought and sold. 
• Regarding SNOW (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), we observe a put option trade with bullish sentiment. It expires in 274 day(s) on January 17, 2025. Parties traded 46 contract(s) at a $125.00 strike. The total cost received by the writing party (or parties) was $55.4K, with a price of $1205.0 per contract. There were 3438 open contracts at this strike prior to today, and today 235 contract(s) were bought and sold. 
• Regarding MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we observe a put option trade with neutral sentiment. It expires in 1 day(s) on April 19, 2024. Parties traded 50 contract(s) at a $1250.00 strike. The total cost received by the writing party (or parties) was $240.0K, with a price of $4800.0 per contract. There were 465 open contracts at this strike prior to today, and today 209 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AAPL

AKAM

MRVL

NVDA

SMCI

SNOW

10 Information Technology Stocks With Whale Alerts In Today's Session

BITF

Core Scientific, Inc. - Class A Common Stock

CORZ

WULF

Shares of crypto-related stocks are trading higher as Bitcoin has gained over the past 24 hours.

Shares of The Travelers Companies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trv#NYSE">TRV</a>) fell sharply during Wednesday&rsquo;s session following first-quarter earnings.
Travelers reported a mixed first quarter, with earnings lagging analyst&#39; expectations. Core income per share reached $4.69 from $4.11 a year ago, missing the $4.90 consensus forecast. Net income per share rose to $4.80 from $4.13 a year earlier.
Travelers shares dipped 8.1% to $205.03 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>INVO Bioscience, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/invo#NASDAQ">INVO</a>) shares shot up 256% to $2.78 after the company reported a year-over-year increase in fourth-quarter revenue results and said it remains on track to reach its goal of reaching break-even or profitability within its current operations in 2024.</li>
<li>Edible Garden AG Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/edbl#NASDAQ">EDBL</a>) gained 112% to $9.73 after the company reported preliminary first quarter FY24 results.</li>
<li>Sintx Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sint#NASDAQ">SINT</a>) jumped 53% to $0.0350.</li>
<li>VIA optronics AG (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/viao#NYSE">VIAO</a>) shares gained 50.4% to $0.3924 after dipping over 15% on Tuesday.</li>
<li>AERWINS Technologies Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/awin#NASDAQ">AWIN</a>) jumped 42.2% to $4.70.</li>
<li>The Children&#39;s Place, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plce#NASDAQ">PLCE</a>) climbed 35.5% to $9.64 after the company announced it entered into a new financing agreement with Mithaq Capital.</li>
<li>Vanda Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vnda#NASDAQ">VNDA</a>) gained 32% to $5.38 after the company announced that it submitted three proposals since February to acquire all of the outstanding shares of common stock of Vanda Pharmaceuticals and confirmed that its most recent proposal to acquire Vanda remains open for Vanda and its Board of Directors to consider.</li>
<li>EZGO Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ezgo#NASDAQ">EZGO</a>) gained 28% to $2.20. EZGO entered into a strategic cooperation framework agreement with Woteam to jointly explore the Southeast Asian Market.</li>
<li>CXApp Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cxai#NASDAQ">CXAI</a>) shares rose 25% to $4.89 after the company announced 24% ARR growth in 2023.</li>
<li>TRACON Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcon#NASDAQ">TCON</a>) rose 19.6% to $2.0461.</li>
<li>WiSA Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wisa#NASDAQ">WISA</a>) gained 19% to $7.32 on continued upward momentum after the company announced a 5-year WiSA E licensing agreement with an HDTV/PTV brand.</li>
<li>Viracta Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/virx#NASDAQ">VIRX</a>) climbed 19% to $0.8501. Oppenheimer analyst Hartaj Singh maintained Viracta Therapeutics with an Outperform and maintained a $13 price target.</li>
<li>Spectaire Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/spec#NASDAQ">SPEC</a>) rose 17.5% to $0.94 after the company announced that it signed a distribution partnership agreement with a Fortune 1000 Energy Company.</li>
<li>Rani Therapeutics Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rani#NASDAQ">RANI</a>) jumped 14.4% to $7.86.</li>
<li>Cullinan Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgem#NASDAQ">CGEM</a>) gained 14% to $19.75. HC Wainwright &amp; Co. analyst Edward White maintained Cullinan Oncology with a Buy and lowered the price target from $34 to $29.</li>
<li>United Airlines Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) rose 11.2% to $46.12 after the company reported better-than-expected first-quarter financial results.</li>
<li>Chromocell Therapeutics Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/chro#NYSE">CHRO</a>) gained 11.8% to $2.0356 after falling around 7% on Tuesday.</li>
<li>ALX Oncology Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/alxo#NASDAQ">ALXO</a>) rose 10.4% to $16.01.</li>
<li>AMC Entertainment Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) gained 7.5% to $2.9250, bouncing back from the selling pressure the stock has faced in recent week.</li>
<li>Interactive Brokers Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibkr#NASDAQ">IBKR</a>) rose 5.2% to $112.93 following upbeat quarterly earnings.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>ICZOOM Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/izm#NASDAQ">IZM</a>) shares dipped 87.8% to $6.19.</li>
<li>Sunshine Biopharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbfm#NASDAQ">SBFM</a>) fell 47% to $3.5879.</li>
<li>Trio Petroleum Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tpet#NYSE">TPET</a>) fell 35.8% to $0.3144 after dipping over 22% on Tuesday.</li>
<li>Longeveron Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvn#NASDAQ">LGVN</a>) dipped 31% to $2.43 after the company announced the exercise of warrants for $6.2 million in gross proceeds.</li>
<li>iSun, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/isun#NASDAQ">ISUN</a>) declined 27% to $0.1556.</li>
<li>China SXT Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sxtc#NASDAQ">SXTC</a>) fell 25.7% to $1.2001. China SXT Pharmaceuticals shares jumped 38% on Tuesday following a post on X from trader Zack Morris mentioning the stock.</li>
<li>Portage Biotech Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prtg#NASDAQ">PRTG</a>) fell 25.3% to $0.21. The company recently announced that it is expanding its evaluation of strategic alternatives and implementing additional measures to extend its available cash runway.</li>
<li>Trilogy Metals Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tmq#NYSE">TMQ</a>) shares fell 23.2% to $0.3865.</li>
<li>HUB Cyber Security Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hubc#NASDAQ">HUBC</a>) dipped 22.6% to $1.44.</li>
<li>Destiny Tech100 Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dxyz#NASDAQ">DXYZ</a>) fell 22% to $33.83 after gaining around 18% on Tuesday.</li>
<li>Finch Therapeutics Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fnch#NASDAQ">FNCH</a>) dipped 21.9% to $2.42.</li>
<li>Sage Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sage#NASDAQ">SAGE</a>) shares fell 20.8% to $12.37. The company announced topline results from Phase 2 PRECEDENT study of dalzanemdor for the treatment of people with mild cognitive impairment in Parkinson&#39;s Disease.</li>
<li>Ontrak, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/otrk#NASDAQ">OTRK</a>) fell 20.3% to $0.3666 after the company reported worse-than-expected quarterly financial results.</li>
<li>SolarMax Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smxt#NASDAQ">SMXT</a>) dipped 20% to $9.72 following fiscal year 2023 results.</li>
<li>Dragonfly Energy Holdings Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dfli#NASDAQ">DFLI</a>) declined 15.8% to $0.5199. Dragonfly Energy shares jumped over 36% on Tuesday after the company reported better-than-expected fourth-quarter EPS results.</li>
<li>Montrose Environmental Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/meg#NYSE">MEG</a>) fell 13.3% to $36.37 after announcing a public offering of 3 million shares.</li>
<li>Dynatronics Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dynt#NASDAQ">DYNT</a>) fell 12.2% to $0.50 after gaining around 48% on Tuesday.</li>
<li>VinFast Auto Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vfs#NASDAQ">VFS</a>) fell 12% to $2.70 following first-quarter earnings.</li>
<li>Adaptive Biotechnologies Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adpt#NASDAQ">ADPT</a>) declined 9.3% to $2.4950.</li>
<li>SNDL Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sndl#NASDAQ">SNDL</a>) fell 9.3% to $1.7950.</li>
<li>Arm Holdings plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/arm#NASDAQ">ARM</a>) fell 9.3% to $110.65.</li>
<li>J B Hunt Transport Services Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jbht#NASDAQ">JBHT</a>) shares fell 9.2% to $166.25 after the company missed first-quarter revenue and EPS estimates.</li>
<li>MicroStrategy Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) dipped 8.8% to $1,143.81. MicroStrategy is expected to report its financial results for the first quarter of 2024 after the closing bell on April 29, 2024.</li>
<li>Forward Air Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fwrd#NASDAQ">FWRD</a>) fell 8.3% to $23.13.</li>
<li>Autodesk, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adsk#NASDAQ">ADSK</a>) fell 7.1% to $211.97 after the company announced that it will not file its Annual Report on Form 10-K for the year ended Jan. 31, 2024 within the 15-day extension period. The company provided an update on the previously reported internal investigation that is currently being conducted by the Audit Committee.</li>
<li>ASML Holding N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asml#NASDAQ">ASML</a>) shares declined 7.2% to $907.11 after the company reported worse-than-expected first-quarter results and issued second-quarter guidance.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38293462/discover-financial-gears-up-for-q1-print-these-most-accurate-analysts-revise-forecasts-ahead-of-ear"> Discover Financial Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call</a>

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ADSK

ALXO

AWIN

CGEM

CHRO

CXAI

DFLI

DXYZ

DYNT

EZGO

FNCH

FWRD

HUBC

IBKR

INVO

ISUN

LGVN

OTRK

PLCE

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RANI

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SINT

SMXT

SNDL

SPEC

SXTC

TCON

TPET

VIAO

VIRX

VNDA

WISA

Why Travelers Shares Are Trading Lower By Around 8%? Here Are Other Stocks Moving In Wednesday's Mid-Day Session

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Information Technology sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVDA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/19/24</td>
<td>$850.00</td>
<td>$30.6K</td>
<td>18.4K</td>
<td>34.8K</td>
</tr>
<tr>
<td>AMD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$160.00</td>
<td>$35.0K</td>
<td>4.7K</td>
<td>25.6K</td>
</tr>
<tr>
<td>DOMO</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/16/24</td>
<td>$7.00</td>
<td>$70.3K</td>
<td>2.1K</td>
<td>4.6K</td>
</tr>
<tr>
<td>SMCI</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$960.00</td>
<td>$85.6K</td>
<td>632</td>
<td>2.3K</td>
</tr>
<tr>
<td>TSM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$120.00</td>
<td>$988.5K</td>
<td>536</td>
<td>1.5K</td>
</tr>
<tr>
<td>WOLF</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$25.00</td>
<td>$392.0K</td>
<td>1.7K</td>
<td>1.0K</td>
</tr>
<tr>
<td>AKAM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$95.00</td>
<td>$30.3K</td>
<td>110</td>
<td>930</td>
</tr>
<tr>
<td>WDC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>04/19/24</td>
<td>$71.00</td>
<td>$27.6K</td>
<td>636</td>
<td>834</td>
</tr>
<tr>
<td>MSTR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/19/24</td>
<td>$1150.00</td>
<td>$37.5K</td>
<td>383</td>
<td>498</td>
</tr>
<tr>
<td>PD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$22.50</td>
<td>$31.4K</td>
<td>1.9K</td>
<td>440</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• Regarding NVDA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), we observe a put option sweep with neutral sentiment. It expires in 2 day(s) on April 19, 2024. Parties traded 25 contract(s) at a $850.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $30.6K, with a price of $1225.0 per contract. There were 18446 open contracts at this strike prior to today, and today 34863 contract(s) were bought and sold. 
• For AMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), we notice a call option sweep that happens to be bearish, expiring in 2 day(s) on April 19, 2024. This event was a transfer of 256 contract(s) at a $160.00 strike. This particular call needed to be split into 23 different trades to become filled. The total cost received by the writing party (or parties) was $35.0K, with a price of $137.0 per contract. There were 4784 open contracts at this strike prior to today, and today 25620 contract(s) were bought and sold. 
• Regarding DOMO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOMO#NASDAQ">DOMO</a>), we observe a put option sweep with bullish sentiment. It expires in 121 day(s) on August 16, 2024. Parties traded 1759 contract(s) at a $7.00 strike. This particular put needed to be split into 88 different trades to become filled. The total cost received by the writing party (or parties) was $70.3K, with a price of $40.0 per contract. There were 2191 open contracts at this strike prior to today, and today 4646 contract(s) were bought and sold. 
• Regarding SMCI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), we observe a put option trade with bearish sentiment. It expires in 2 day(s) on April 19, 2024. Parties traded 30 contract(s) at a $960.00 strike. The total cost received by the writing party (or parties) was $85.6K, with a price of $2856.0 per contract. There were 632 open contracts at this strike prior to today, and today 2391 contract(s) were bought and sold. 
• Regarding TSM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), we observe a put option trade with bearish sentiment. It expires in 247 day(s) on December 20, 2024. Parties traded 1500 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $988.5K, with a price of $659.0 per contract. There were 536 open contracts at this strike prior to today, and today 1513 contract(s) were bought and sold. 
• For WOLF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOLF#NYSE">WOLF</a>), we notice a put option trade that happens to be bullish, expiring in 156 day(s) on September 20, 2024. This event was a transfer of 800 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $392.0K, with a price of $490.0 per contract. There were 1794 open contracts at this strike prior to today, and today 1035 contract(s) were bought and sold. 
• For AKAM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKAM#NASDAQ">AKAM</a>), we notice a put option trade that happens to be bearish, expiring in 212 day(s) on November 15, 2024. This event was a transfer of 46 contract(s) at a $95.00 strike. The total cost received by the writing party (or parties) was $30.3K, with a price of $660.0 per contract. There were 110 open contracts at this strike prior to today, and today 930 contract(s) were bought and sold. 
• Regarding WDC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>), we observe a put option sweep with neutral sentiment. It expires in 2 day(s) on April 19, 2024. Parties traded 200 contract(s) at a $71.00 strike. This particular put needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $27.6K, with a price of $138.0 per contract. There were 636 open contracts at this strike prior to today, and today 834 contract(s) were bought and sold. 
• Regarding MSTR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), we observe a put option trade with bearish sentiment. It expires in 2 day(s) on April 19, 2024. Parties traded 10 contract(s) at a $1150.00 strike. The total cost received by the writing party (or parties) was $37.5K, with a price of $3750.0 per contract. There were 383 open contracts at this strike prior to today, and today 498 contract(s) were bought and sold. 
• For PD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>), we notice a call option sweep that happens to be bullish, expiring in 30 day(s) on May 17, 2024. This event was a transfer of 331 contract(s) at a $22.50 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $31.4K, with a price of $95.0 per contract. There were 1984 open contracts at this strike prior to today, and today 440 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

DOMO

WOLF

10 Information Technology Stocks Whale Activity In Today's Session

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
As the Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) halving event nears, investors closely monitor the supply-demand dynamics. Following Saturday&rsquo;s sell-off, spot Bitcoin ETF net inflows on Monday were anticipated to shape demand post-halving. According to the Bitcoin Halving Countdown, the event is anticipated for Friday, April 19th, or Saturday, April 20, depending on how many blocks are pushed through in the coming days. 



As the event approaches, both the Greed Index and Bitcoin Fear have come closer to the Extreme Greed division. On April 15, the index rose from 72 to 74, hinting at a potential BTC pullback. Market flow data from spot ETFs show net outflows of $82.8 million in the week ending April 12, which could influence near-term trends. Michael Saylor, founder and Chairman of MicroStrategy (NASDAQ:<a href="https://investorplace.com/stock-quotes/mstr-stock-quote/">MSTR</a>), shared a performance chart highlighting these trends on Sunday.



Here&rsquo;s what investors may want to know heading into this pivotal halving event.



<h2>Turbulence Over the Weekend</h2>



On April 13, the cryptocurrency market <a href="https://www.cnbc.com/2024/04/14/bitcoin-btc-and-other-cryptocurrencies-tumble-amid-middle-east-tensions-.html">experienced significant sell-offs</a> following an unprecedented Iranian attack on Israel. Bitcoin, down by 8% late Saturday, rebounded from below $62,000 to above $64,000 by Sunday morning. That marked Bitcoin&rsquo;s steepest decline in over a year, contrasting recent record highs driven by inflows into U.S. spot bitcoin ETFs.



Overnight in the Middle East, Iran launched its first direct attack on Israel, with Israel claiming to have neutralized 99% of the identified threats. The assault was allegedly prompted by an Israeli strike in Syria, resulting in a significant drop in Iranian currency.



On Sunday, Bitcoin rose by 1.74%, rebounding from Saturday&rsquo;s 3.78% decline to close at $66,013, breaking a three-day losing streak. Investor sentiment improved following news that Iran had pre-warned Israel of the Saturday attack, easing concerns of immediate retaliation.



<h2>Pre-Halving Happenings</h2>



With the Bitcoin halving nearing, heightened demand from Ordinals traders raised transaction fees to 90 sats/vByte ($8.50 per transaction). Their increased activity, hitting over 162,000 transactions daily, spiked &ldquo;daily inscription fee spent&rdquo; to $1.24 million in 30 days.



James Van Stratten, a CryptoSlate analyst, noticed <a href="https://www.cryptotimes.io/2024/04/12/ordinal-activity-ramps-pre-halving-with-bitcoin-fees-surge/#:~:text=James%20Van%20Stratten%2C%20a%20lead%20analyst%20at%20CryptoSlate%2C%20wrote%2C%20%E2%80%9CBeen%20monitoring%20Bitcoin%20fees%20for%20the%20past%20few%20weeks%20now%2C%20and%20they%20are%20starting%20to%20rise%20again%20meaningfully.%20Bitcoin%20hasn%E2%80%99t%20flipped%20Ethereum%20fees%20in%202024%3B%20I%20think%20they%20might%20soon.%20Halving%20may%20be%20the%20catalyst.%E2%80%9D">rising Bitcoin fees,</a> possibly surpassing Ethereum&rsquo;s (<a href="https://investorplace.com/cryptocurrency/eth-usd/">ETH-USD</a>) due to the halving&rsquo;s impact. Speculation suggests increased trading activity before the halving, reducing the new Bitcoin supply. Casey Rodamor&rsquo;s launch of &ldquo;Runes&rdquo; may escalate fees further, sparking a memecoin trend on Bitcoin amid high L1 activity.



According to Coinglass data, nearly 300,000 traders faced liquidations in the <a href="https://coingape.com/markets/crypto-price-prediction-4-13-last-drop-before-the-bitcoin-halving-rally/">last 48 hours,</a> totaling about $936.12 million. With the Bitcoin halving imminent, the recent market dip aims to shake out weaker traders and attract those with stronger convictions. 



Bitcoin&rsquo;s current trend appears sideways, with resistance at $73,800 and support around $67,921, reflecting ongoing buyer pressure. As Bitcoin&rsquo;s market cap hovers around $1.2 trillion and daily trading volume stands at $42 billion, a bounce from support could fuel momentum toward retesting the all-time high.



<h2>The Difference Between 2024 Halving and Previous Ones</h2>



Will the 2024 Bitcoin halving redefine crypto adoption? With Bitcoin ETFs emerging alongside the halving, the post-event market landscape may shift dramatically. This article explores the potential impact, from disrupting traditional narratives to shaping mainstream crypto adoption.



Previous Bitcoin halvings triggered significant price increases. In 2012, the reducing block was divided from 50 BTC to 25 BTC, leading the coin to surge 83 times. During the 2016 event, the surge was over 30 times, equating prices per BTC at $20,000. In 2020, it saw a steadier climb, with only 5 times increase and $60,000 per BTC.



Historical price trends suggest post-halving surges, but relying solely on them poses risks. The stock-to-flow model, correlating scarcity with price, has constraints. Previous halvings aligning with significant events like the 2012 European debt crisis show broader economic influences on Bitcoin interest.



The 2024 halving stands out with the advent of U.S. spot Bitcoin ETFs, altering investment patterns and market dynamics. The shift extends beyond miner reward reductions, signifying a pivotal change in Bitcoin&rsquo;s landscape. The approval of these ETFs broadens investor access, fostering mainstream adoption and mitigating post-halving sell pressure with $12.1 billion inflows.



In the past, halvings brought sell pressure from reduced miner income, but Bitcoin ETFs aimed to offset this with fresh capital. ETFs&rsquo; influx might counteract post-halving sell pressure, echoing previous halving effects.



<h2>What to Expect Post-Halving</h2>



An analyst suggests that Bitcoin miners&rsquo; selling, totaling up to $5 billion, could persist for four to six months post-halving. Past cycles indicate a significant outflow of Bitcoin from miners during this period, potentially influencing Bitcoin&rsquo;s sideways movement in the coming months.



Markus Thielen, a head of research analyst at 10x Research, <a href="https://bitcoinnews.com/markets/markus-thielen-miners-5-billion/">expects big things</a> after the halving event.



Thielen suggested a potential six-month &ldquo;summer lull,&rdquo; mirroring past patterns where Bitcoin traded between $9,000 and $11,500 post-halving. Based on historical trends, with this year&rsquo;s halving around April 20, significant upward movement might only occur in October.



Additionally, miners tended to accumulate BTC, creating a supply-demand imbalance and driving Bitcoin prices higher before the halving. This <a href="https://cointelegraph.com/news/bitcoin-s-pre-halving-rally-may-start-soon-here-s-why">trend was evident in 2024,</a> with BTC soaring around 70% to a record high of $73,734 before correcting to below $63,000 in mid-April. 



Thielen suggested that altcoins might be most affected, as many experienced significant declines recently, remaining far from their 2021 peaks. Despite predictions of an altcoin rally following the halving, historical data indicates that such rallies typically start about six months later.



Moreover, he suggested that Marathon (NASDAQ:<a href="https://investorplace.com/stock-quotes/mara-stock-quote/">MARA</a>), the world&rsquo;s largest Bitcoin miner, likely accumulated an inventory to be gradually sold post-halving to avoid revenue fluctuations. Marathon produces 28 to 30 BTC daily, which could mean an additional 133 days of supply, plus its post-halving production of 14 to 15 BTC daily. If other miners adopt similar strategies, up to $104 million worth of BTC could be sold daily, potentially reversing the supply-demand dynamics. 



Marathon CEO Peter Thiel mentioned a <a href="https://www.msn.com/en-us/money/markets/bitcoin-halving-rally-is-already-partially-priced-in-marathon-ceo-thiel-says/ar-BB1llzEF">break-even rate</a> of $46,000 per BTC post-halving and expects minimal price shifts in the subsequent six months.



<h2>Bottom Line</h2>



In the cryptocurrency market, the Bitcoin halving event holds notable importance, occurring approximately every four years after every 210,000 blocks are mined. This event, reducing new coin circulation, helps regulate supply and demand by decreasing block rewards for miners. The halving instigates a demand-supply imbalance, potentially catalyzing a Bitcoin bull market.



The intertwining of ETF adoption and changing market dynamics sets a strong base for Bitcoin&rsquo;s ongoing ascent. Beyond Bitcoin&rsquo;s prominence, the event carries broader significance for the crypto realm. Investors must remain vigilant and adaptable amid the 2024 Bitcoin halving&rsquo;s complexities. 



Staying informed enables investors to seize emerging prospects and tackle potential hurdles effectively. To be sure, this will be an important event to watch, for those looking to trade Bitcoin in the coming months.



On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Chris MacDonald&rsquo;s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/04/bitcoin-halving-2024-will-this-be-the-catalyst-for-mainstream-crypto-adoption/">Bitcoin Halving 2024: Will This Be the Catalyst for Mainstream Crypto Adoption?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Bitcoin Halving 2024: Will This Be the Catalyst for Mainstream Crypto Adoption?

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) halving event has passed, and with it comes a renewed interest in blockchain technology and its potential for transforming various industries. As the cryptocurrency market continues to evolve, savvy investors are looking beyond just Bitcoin and exploring opportunities in companies that are leveraging blockchain technology to disrupt traditional business models.



Despite the fears around &ldquo;higher for longer&rdquo; interest rates, geopolitical instabilities and a stock market sell-off, I am firmly bullish on Bitcoin&rsquo;s short-term future. The coin has already made a run up to $66,000 at the time of writing over the past few days, and as ETF trading goes into full swing this week, I believe that those numbers could approach the $70,000 mark.



It should be noted that Bitcoin was overvalued based on several momentum indicators such as the Relative Strength Index (<a href="https://investorplace.com/stock-quotes/rsi-stock-quote/">RSI</a>) before the sell-off occurred this month. In order for it to maintain such a high price velocity, an extremely bullish backdrop would have been needed.



But now that Bitcoin has come back to Earth again, I think it&rsquo;s in the prime spot for rocketing higher, and blockchain stocks can be a great way to do so.



So here are seven blockchain stocks for investors to consider.



<h2>Riot Platforms (RIOT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/riot1600-300x169.png" alt="In this photo illustration, the Riot Platforms (RIOT) logo is displayed on a smartphone screen."><div>Source: rafapress / Shutterstock.com</div></div>Riot Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/riot-stock-quote/">RIOT</a>) has established itself as a leader in the Bitcoin mining industry by significantly increasing its mining power while simultaneously reducing its cost of mining Bitcoin to nearly zero. This remarkable achievement is largely due to the <a href="https://www.riotplatforms.com/bitcoin-mining/">company&rsquo;s strategic power use</a> and the power credits it arranges with energy companies. By paying around $6,141 per Bitcoin, Riot Platforms can pocket the premium, giving it a substantial edge over its competitors.



The company&rsquo;s power management strategy sets it apart in an industry often criticized for its heavy electricity use and high operating costs. This competitive advantage positions RIOT for continued success moving forward.



I see RIOT as being a synthetic (and leveraged) bet on Bitcoin for obvious and not-immediately not obvious reasons. I think that Bitcoin miners like RIOT will one day transition their business models to something more sustainable energy wise.



But with the stock being up 10.13% already on Monday before the market opens at the time of writing, this implies there could be significant volatility on the cards to send RIOT to the moon later this week.



<h2>Nvidia (NVDA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/stocks-to-buy-nvda1600-300x169.png" alt="Nvidia logo seen on smartphone which is placed on pile of US dollar bills. Concept. Selective focus. Stocks to buy like Nvidia"><div>Source: Ascannio / Shutterstock.com</div></div>Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) is recognized not only for its high-performance GPUs but also for its significant role in the blockchain and cryptocurrency sectors. The company&rsquo;s GPUs are widely used in cryptocurrency mining, which is crucial for the mining of various digital currencies. This has helped establish Nvidia as a strong player in the blockchain market.



Despite its <a href="https://www.coindesk.com/business/2023/08/23/nvidias-make-or-break-earnings-could-be-huge-for-ai-tied-crypto-tokens/">primary fame in AI</a> and gaming technologies, Nvidia&rsquo;s impact extends significantly into the crypto world, influencing the dynamics of AI crypto tokens. For example, tokens like Fetch.ai (<a href="https://investorplace.com/cryptocurrency/fet-usd/">FET-USD</a>) are often affected by Nvidia&rsquo;s performance, given the company&rsquo;s substantial sway over the tech and crypto industries.



For this reason I think that NVDA could rally over the next week especially as the halving events gets fully priced in.



Financially, Nvidia also <a href="https://stockanalysis.com/stocks/nvda/statistics/">presents an interesting opportunity</a>. While its trailing price-to-earnings (P/E) ratio is high, indicating a rich valuation, its forward P/E ratio suggests that the market is optimistic about its future earnings potential.



<h2>Greenidge Generation (GREE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/10/stocks-to-buy-1600-300x169.jpg" alt="Stocks to buy: smartphone with the words &quot;buy&quot; and &quot;sell&quot; displayed on the screen. The user's finger is about to press buy. Stock charts are in the background of the image. Momentum Stocks. S&amp;P 600 Stocks to Buy. breakthrough stocks. Mario Gabbeli stocks"><div>Source: Chompoo Suriyo / Shutterstock.com</div></div>Greenidge Generation (NASDAQ:<a href="https://investorplace.com/stock-quotes/gree-stock-quote/">GREE</a>) operates as a vertically integrated cryptocurrency datacenter and power generation company. It&rsquo;s notably engaged in cryptocurrency mining with a focus on using greener technologies, which positions it distinctively in the sector.



Despite experiencing a <a href="https://ir.greenidge.com/">significant drop in its stock value</a> over the past year, the company is making strides in enhancing its infrastructure, having recently expanded its power capacity with additional low-cost power in key territories such as South Carolina and Mississippi&#8203;.



As a penny stock, GREE&rsquo;s daily charts look somewhat like a heart rate monitor, and I believe that its volatility will only increase.



GREE is attempting to solve what some consider one of Bitcoin&rsquo;s most pressing issues: energy use, or rather energy waste. Of course, one can always make the argument that any form of energy spent on Bitcoin is wasteful, but then it wouldn&rsquo;t matter what energy source you could use in that case.



GREE is making a practical step forward while other miners have their heads in the sands that the energy use is a problem, which makes it one of those stocks to buy to take advantage of the halving event.



<h2>Coinbase (COIN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/coin-stock-4-300x169.jpg" alt="The Coinbase (COIN stock) logo on a smartphone screen with a BTC token. Crypto winter is setting in."><div>Source: Primakov / Shutterstock.com</div></div>Coinbase (NASDAQ:<a href="https://investorplace.com/stock-quotes/coin-stock-quote/">COIN</a>) is perhaps the most obvious play for investors looking to take advantage of the Bitcoin halving event. Additionally, the potential ongoing implementation of spot Bitcoin ETFs in the U.S. <a href="https://www.cryptoglobe.com/latest/2023/12/david-duong-of-coinbase-institutional-analyzes-cryptos-resurgence-and-future-trends-in-2024/">could reshape the market</a> by broadening access to cryptocurrencies and adding layers of financial products, which COIN is a key custodian of.



I expect that COIN will see some record quarters over the next year via a huge number of trading fees, especially in the current quarter.&nbsp;



Some of this can be explained via the (<a href="https://www.tradingview.com/news/cointelegraph:15f936090094b:0-bitcoin-mining-revenue-peaked-at-107m-on-btc-halving-day/">speculatively artificial</a>) expansion of the mempool recently. This has led to record transaction fees being charged over a short time period, with some as high as $10,000 on the extreme end of the scale.



The reason being is that some projects have stopped building on alternative blockchains such as Ethereum (<a href="https://investorplace.com/cryptocurrency/eth-usd/">ETH-USD</a>) and opt for building on Bitcoin instead for its perceived credibility. Teams are minting ETFs, and a cynic would suggest that these prices are being driven artificially higher.



Although this thesis is speculative and somewhat cynical, it&rsquo;s undeniable that transaction fees have gone up considerably, and this on top of all the trading fees that COIN will be announcing as well, making it one of those hot stocks to watch.



<h2>MicroStrategy (MSTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/mstr1600-2-300x169.png" alt="In this photo illustration, the MicroStrategy (MSTR) Incorporated logo is displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>MicroStrategy (NASDAQ:<a href="https://investorplace.com/stock-quotes/mstr-stock-quote/">MSTR</a>) holds a significant amount of Bitcoin, heavily influencing its stock value due to its investment in the cryptocurrency.



My thesis for MSTR is that its book value per share will be inflated throughout the year as Bitcoin continues its rally. This in turn may lead institutions and retail investors to surmise that it&rsquo;s undervalued, which would drive its stock price higher.



MSTR&nbsp; currently <a href="https://www.bloomberg.com/news/articles/2024-03-19/microstrategy-owns-about-1-of-all-bitcoin-with-latest-purchase-mstr#:~:text=Crypto,that%20will%20ever%20be%20issued.">holds around 214,246 bitcoins</a> on the balance sheet, which is the equivalent to over 1% of all the total bitcoin that has ever been mined, a huge sum, Bloomberg reported.



Furthermore, in its recent activities, <a href="https://www.microstrategy.com/press/microstrategy-completes-603-million-offering-of-0875-convertible-senior-notes-due-2031_03-19-2024">MSTR completed substantial financial maneuvers</a>, including the issuance of $603.75 million in convertible notes, aiming to further increase its Bitcoin holdings.



MSTR has made a pullback on the yearly chart and it trades considerably below its all-time high. I think that if Bitcoin is able to breach its key resistance areas then we&rsquo;ll see MSTR also rocket in response.



<h2>Marathon Digital (MARA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/mara1600-2-300x169.png" alt="In this photo illustration, the Marathon Digital Holdings (MARA) logo seen displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>Marathon Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/mara-stock-quote/">MARA</a>) is a prominent player in the Bitcoin mining industry with extensive operations.



MARA has outlined <a href="https://ir.mara.com/news-events/press-releases/detail/1351/marathon-digital-holdings-announces-bitcoin-production-and">ambitious plans for expansion</a> and growth. The company aims to increase its Bitcoin mining capacity. Additionally, MARA intends to continue investing in the latest mining hardware and technology.



The CEO of Marathon, Fred Thiel, <a href="https://www.bloomberg.com/news/articles/2024-04-09/marathon-ceo-thiel-says-mara-bitcoin-halving-rally-partially-priced-in">suggested that the halving event</a> was already priced into the market. Thiel believed that significant demand from ETFs has already absorbed some of this impact. As a result, the halving may have a limited effect on Bitcoin prices.



This may seem to contradict MARA was one of the post-having stocks to buy, but the recent price movements by Bitcoin seem to suggest otherwise. Bitcoin briefly breached the $60,000 support level and has since rebounded strongly after the halving event. ETF inflows are also strong.



The issue with saying that the market is &ldquo;pricing things in&rdquo; is that it&rsquo;s a reasonable assumption but ultimately an unfalsifiable thing to claim. For the record: MARA is up 3% in pre-market trading today.



<h2>Bitdeer Technologies (BTDR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/stocks-to-buy-9-300x169.jpg" alt="stock button on a computer keyboard (representing best investments to start 2021. stocks to buy"><div>Source: Shutterstock</div></div>Bitdeer Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/btdr-stock-quote/">BTDR</a>) offers competitive share prices and has a low breakeven point for Bitcoin mining.



Bitdeer <a href="https://stockanalysis.com/stocks/btdr/">reported robust revenues</a> in the fourth quarter of the previous year, with a significant increase in self-mining revenues. The company also achieved positive earnings per share (<a href="https://investorplace.com/stock-quotes/eps-stock-quote/">EPS</a>) compared to the previous year.



Bitdeer has also made <a href="https://www.nasdaq.com/articles/this-undervalued-bitcoin-mining-stock-is-set-to-double-according-to-wall-street-analysts">strategic moves</a> to enhance its profitability and expand its operations. These include appointing founder Jihan Wu as CEO, opening a data center in Bhutan to reduce electricity costs, and leveraging immersion cooling technology in its Norway data center to optimize electricity usage.



The main reason I like BTDR though comes from its low valuation, especially compared to other Bitcoin miners. It trades a just 1.89 times sales, and has a positive forward P/E ratio.



As a relatively undervalued gem in the market, I think that BTDR has has the potential to surge much higher.



 On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> InvestorPlace.com Publishing Guidelines</a>.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-stocks-to-buy-right-after-the-april-bitcoin-halving/">7 Stocks to Buy Right After the April Bitcoin Halving </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Stocks to Buy Right After the April Bitcoin Halving

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Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) and other cryptocurrencies <a href="https://www.coindesk.com/markets/2024/04/25/bitcoin-dips-to-63k-as-rate-cut-hopes-dim-following-disappointing-us-inflation-report/">experienced a sharp decline</a> on Thursday following the release of U.S. economic data showing higher inflation and slower growth in the first quarter of 2024. The U.S. GDP growth was reported at 1.6%, lower than the expected 2.5%, while the GDP price index came in at 3.1%, higher than anticipated. That backdrop forms my list of crypto stocks for investors to buy this month.



CoinDesk noted that Bitcoin briefly fell below $63,000, dropping more than 4% before recovering to around $63,700. Ethereum (<a href="https://investorplace.com/cryptocurrency/eth-usd/">ETH-USD</a>) also experienced a 4% decline, trading at approximately $3,100.



The good news, however, is that I am still firmly bullish on the potential of Bitcoin to soar to new heights, which is expected to be a significant tailwind for crypto stocks for the rest of the year.



So, here are three crypto stocks for investors to consider in 2024.



<h2>Riot Platforms (RIOT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/riot1600-300x169.png" alt="In this photo illustration, the Riot Platforms (RIOT) logo is displayed on a smartphone screen."><div>Source: rafapress / Shutterstock.com</div></div>Riot Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/riot-stock-quote/">RI</a><a href="https://investorplace.com/stock-quotes/-stock-quote/"></a><a href="https://investorplace.com/stock-quotes/riot-stock-quote/">OT</a>) focuses primarily on Bitcoin mining and blockchain technologies. For 2024, RIOT is <a href="https://finance.yahoo.com/news/analyst-estimates-heres-brokers-think-190107466.html">focusing on expanding its mining capacity</a> with plans to enhance its self-mining hash rate significantly. The company aims to increase its hash rate from 12.4 EH/s to over 28 EH/s by the end of 2024.



RIOT is a formidable crypto stock in its own right with a great hash rate, but there&rsquo;s more to the thesis that should be considered for investors.



As InvestorPlace reported previously, RIOT has gone on to reach considerable gains in the last few days, rising a dramatic 46%. That price increase <a href="https://investorplace.com/2024/04/is-a-short-squeeze-brewing-in-riot-platforms-riot-stock-after-the-halving/">comes amid rising short interest,</a> which now accounts for more than 13% of RIOT&rsquo;s float, hinting at a possible short squeeze. The situation is bolstered by increasing mentions and positive sentiment on social media platforms.



Speculation aside, this could position RIOT as a great pick to ride out the rest of the year.



<h2>Coinbase (COIN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/coin-stock-4-300x169.jpg" alt="The Coinbase (COIN stock) logo on a smartphone screen with a BTC token. Crypto winter is setting in."><div>Source: Primakov / Shutterstock.com</div></div>Coinbase (NASDAQ:<a href="https://investorplace.com/stock-quotes/coin-stock-quote/">COIN</a>) is a leading platform in the cryptocurrency exchange arena.



COIN typically follows a close price correlation with Bitcoin and is often more volatile than the underlying. That could potentially amplify one&rsquo;s returns as well as losses by holding COIN.



There could be a good reason that whales are pouring into the market based on recent developments. A significant transaction involving $1.3 billion in USD Coin (<a href="https://investorplace.com/cryptocurrency/usdc-usd/">USDC-USD</a>) being transferred to Coinbase was noted by market observers as a potentially strong buy signal for BTC and ETH.



For 2024, COIN is forecasting a <a href="https://www.investing.com/news/cryptocurrency-news/coinbase-forecasts-optimistic-crypto-market-outlook-for-2024-432SI-3260150">continued increase</a> in total cryptocurrency market capitalization, which doubled in 2023. Key themes for COIN in 2024 include increased institutional investment and favorable macroeconomic conditions for risk assets.



While interest rates may have indeed stayed higher for longer, we are likely near the peak of the cycle. The instabilities throughout the world may have thrown investors off guard, but I think the market could catalyze into a strong rally. That makes COIN one of those crypto stocks for investors to keep on their watch lists.



<h2>MicroStrategy (MSTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/mstr1600-2-300x169.png" alt="In this photo illustration, the MicroStrategy (MSTR) Incorporated logo is displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>MicroStrategy (NASDAQ:<a href="https://investorplace.com/stock-quotes/mstr-stock-quote/">MSTR</a>) stands out for its substantial investments in Bitcoin, positioning itself as a major corporate holder of the cryptocurrency.&nbsp;



However, some issues could be clouding MSTR&rsquo;s valuation. The introduction of spot Bitcoin ETFs in January 2024 <a href="https://www.cryptoglobe.com/latest/2024/02/will-microstrategy-adapt-or-be-disrupted-by-real-spot-bitcoin-etfs/">poses a new challenge</a> for MSTR. These ETFs provide investors with simpler and potentially cheaper access to Bitcoin, which could undermine the premium that MSTR&rsquo;s shares have commanded due to direct Bitcoin exposure&#8203;, CryptoGlobe reported.



However, as of the end of 2023, MSTR reported owning approximately 190,000 bitcoins, with the market value of these holdings considerably exceeding their cost basis.



It&rsquo;s for this reason I believe that MSTR could rocket to new heights later in the year as the market rises since its book value per share would also improve as a result.



I think MSTR is one of those crypto stocks to consider as it gives investors a solid hybrid of owning a traditional stock that has significant indirect exposure to Bitcoin.



On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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Halving Event Aftermath: The 3 Hottest Crypto-Related Stocks to Watch Right Now

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