CandleFocus

MicroStrategy down 16% after short-seller’s report

Andrew Left, a well-known short-seller, tweeted negatively about MicroStrategy, causing the stock to decline by 16% within 90 minutes. Left praised MicroStrategy's CEO for his Bitcoin strategy but criticized the stock's detachment from Bitcoin fundamentals. Left also disclosed that he had sold short. Despite the decline, MicroStrategy still trades at a favorable valuation and its Bitcoin holdings are performing well. The company has been buying billions of dollars worth of Bitcoin and selling new shares and corporate debt to fund these purchases. Additionally, a list of MicroStrategy's bond buyers, which included names like Allianz and Blackrock, attracted attention and inspired confidence in the company.

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