From Nasdaq: 2024-05-01 09:51:48

Shares of MicroStrategy (MSTR) have skyrocketed in the last four years, rising from $122 in May 2020 to over $1,050 today. The tech stock is up 68.6% in 2024, despite trading 46.7% below its YTD highs.

MicroStrategy holds 214,400 BTC, making it the largest corporate holder of the cryptocurrency, with holdings worth $12 billion.

A Benchmark analyst suggests that MicroStrategy should adopt new accounting standards to secure its place in the S&P 500, which could significantly impact its earnings.

In Q1 2024, MicroStrategy reported a net loss of $186 million, with revenue of $115 million, below consensus estimates. However, analysts remain bullish on MSTR stock, with a mean target price of $1,733.75, indicating a potential upside of over 62%.

MicroStrategy’s stock prices are closely tied to BTC, making it volatile. A recent decline in BTC prices has led to a 35% drop in MSTR shares in the past month, presenting a buying opportunity for those expecting BTC prices to rise.

Read more at Nasdaq: Is MicroStrategy Headed for S&P 500 Eligibility?