Why Bitcoin- And Ethereum-Related Stock MicroStrategy Is Exploding Higher Today

MicroStrategy Incorporated MSTR shares are trading higher after the company reported second-quarter results and announced a CEO change. The stock is also up around 69.9% over the trailing month amid a recent rise in Bitcoin BTC/USD prices.

What Happened?

Michael Saylor has been the CEO of MicroStrategy Incorporated since he founded the company in 1989. That is, until Tuesday, when the company announced that Saylor would be stepping down as CEO. Phong Le, MicroStrategy’s president, will step in as CEO to replace Saylor... Read More

See Also: Why Robinhood Markets Shares Are Popping Off

According to data from Benzinga Pro, MicroStrategy has a 52-week high of $891.38 and a 52-week low of $134.09.