Reported 1 day ago
MicroStrategy's stock fell over 16% after Citron Research announced a new short position against it, despite the company having gained more than 500% this year and Bitcoin reaching a record high of $98,000. MicroStrategy recently purchased an additional 51,780 bitcoins for approximately $4.6 billion, bringing its total holdings to 331,200 bitcoins. Investors are concerned that the stock surge may not be sustainable, as Citron suggests it has become detached from Bitcoin fundamentals.
Source: YAHOO