What's Going On With MicroStrategy Stock Today?

MicroStrategy Incorporated MSTR shares are trading relatively flat in the morning session on Tuesday.

According to Benzinga Pro, MSTR stock has gained over 488% in the past year. Investors can gain exposure to the stock via First Trust SkyBridge Crypto Industry And Digital Economy ETF CRPT

and Schwab Strategic Trust Schwab Crypto Thematic ETF STCE.

Check This Out: MicroStrategy And Michael Saylor Settle $40 Million Tax Fraud Lawsuit

Yesterday, the company and its executive chairman Michael Saylor have agreed to a $40 million settlement to resolve a tax fraud lawsuit brought by the Washington D.C. attorney general.

The lawsuit, filed in August 2022, accused Saylor of failing to pay over $25 million in income taxes, alleging he had avoided these taxes while living in Washington for more than a decade, Bloomberg reported on Monday.

Saylor denied the accusations, claiming his residence was in Florida.

In an official statement, D.C. Attorney General Brian L. Schwalb emphasized the significance of the settlement: “This precedent-setting settlement makes clear that no one in the District of Columbia, no matter how wealthy or powerful they may be, is above the law.”

On April 30, the company unveiled enhancements to the MicroStrategy Auto bot at MicroStrategy World 2024. These enhancements help organizations extend the reach of AI and enterprise-grade analytics by addressing industrywide trust and accessibility issues.

As of March-end, the carrying value of the company’s digital assets (comprised of approximately 214,278 bitcoins) was $5.074 billion, which reflects cumulative impairment losses of $2.461 billion since acquisition and an average carrying amount per bitcoin of approximately $23,680.

As of March 31, the company had cash and cash equivalents of $81.3 million.

Price Action: MSTR shares are trading higher by 0.10% to $1,629.05 at last check Tuesday.

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Photo via Mohamed Hassan from Pixabay