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What's Going On With MicroStrategy Stock Monday?
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What's Going On With MicroStrategy Stock Monday?
Jul 22, 2024 8:33 AM

MicroStrategy Inc ( MSTR ) shares are calm on Monday after rising 14.4% on Friday on the back of continued upward momentum for Bitcoin (CRYPTO: BTC) and the broader crypto space. Here’s what you need to know.

What To Know: MicroStrategy ( MSTR ) shares have been seeing increased attention in recent trading sessions amid a rebound in the price of bitcoin.

Bitcoin is up about 7% over the past week as sentiment continues to improve and money continues to pour into digital asset investment products, which saw $1.35 billion in inflows last week, bringing total inflows over the past three weeks up to $3.2 billion. ETF trading volumes were also up about 45% on a week-over-week basis.

MicroStrategy ( MSTR ) is also seeing increased attention ahead of earnings and a stock split that is set to take effect in the coming weeks.

MicroStrategy ( MSTR ) will report financial results for the second quarter after the market close on Aug. 1. The company is expected to report a loss of $1.10 per share and quarterly revenue of $122.6 million, according to estimates from Benzinga Pro.

MicroStrategy ( MSTR ) will also enact a 10-for-1 stock split by means of a dividend to holders of record as of the market close on Aug. 1. Holders of MicroStrategy ( MSTR ) shares will receive nine additional shares for each share held. The shares are expected to be distributed after the market close on Aug. 7. MicroStrategy ( MSTR ) stock is expected to begin trading on a split-adjusted basis at the market open on Aug. 8.

MicroStrategy ( MSTR ) is a business intelligence, mobile software and cloud-based services company, focused on accumulating bitcoin. Last month, the company raised $800 million through a convertible note offering. MicroStrategy ( MSTR ) said it planned to use the proceeds to acquire additional bitcoin. MicroStrategy ( MSTR ) held 226,331 bitcoin as of June 20.

Don’t Miss: Bitcoin Dominates, Ethereum Rebounds: Here’s How Much Crypto Funds Raked In Last Week

MSTR Price Action: MicroStrategy ( MSTR ) shares were down 1.77% at $1,746.95 at the time of publication, according to Benzinga Pro.

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