What's Going On With MicroStrategy Shares Wednesday?

MicroStrategy Incorporated MSTR shares are trading higher on Wednesday after Bitcoin BTC/USD surpassed $68,000, reaching its highest levels since July.

The Details: MicroStrategy is often viewed as a proxy for Bitcoin as the company holds reserves totaling 252,220 Bitcoin as of Sept. 19. The company’s significant exposure to Bitcoin causes MicroStrategy’s stock to be easily influenced by changes in Bitcoin prices.

Bitcoin ETFs saw a significant surge in inflows to start the week. Single-day net inflows of $555.8 million on Monday marked the highest activity since July. Bitcoin prices also reflect their highest levels since July as of Wednesday.

MicroStrategy announced Wednesday that it will release 2024 third-quarter earnings on Oct. 30 after the market closes. The company will hold a video webinar at 5 p.m. ET that day to discuss the results.

According to data from Benzinga Pro, analysts anticipate revenue of $122.66 million and a loss of 11 cents per share. The company has missed analyst estimates on the top and bottom lines in two consecutive quarters.

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How To Buy MicroStrategy Shares

By now you're likely curious about how to participate in the market for MicroStrategy – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share.

In the case of MicroStrategy, which is trading at $198.75 as of publishing time, $100 would buy you 0.53 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

MSTR Price Action: MicroStrategy stock was trading 2.34% higher at $198.75 at the time of publication, per data from Benzinga Pro.

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