MicroStrategy Adds More Bitcoin: What's Going On With The Stock?

MicroStrategy Incorporated MSTR shares are trading lower Thursday, though the stock is up by more than 18% over the past month. Here's a look at what's going on:

What To Know:

MicroStrategy has purchased additional Bitcoin BTC/USD, according to a post on the social media platform X from CEO Michael Saylor. The post reads, "MicroStrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per bitcoin. As of 11/29/23, MicroStrategy now hodls 174,530 bitcoin acquired for ~$5.28 billion at an average price of $30,252 per bitcoin."

On Thursday, MicroStrategy filed a prospectus supplement with the SEC that it may offer and sell shares of MSTR class A common stock with an aggregate offering price of up to $750,000,000.

MicroStrategy shares have grabbed the interest of short-sellers with 27.72% of available MSTR shares being sold short, according to data from Benzinga Pro.

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MSTR Price Action: According to Benzinga Pro, MicroStrategy shares are down by 3% at $491.11 at the time of publication.

Image: Darwin Laganzon from Pixabay