MicroStrategy's stock soars 550% YTD after Nasdaq-100 inclusion, driven by bullish bitcoin views

From Nasdaq: 2024-12-17 16:40:39

MicroStrategy attracted $11 million in retail investor inflows after joining the Nasdaq-100, with its stock soaring 550% YTD, surpassing Nvidia’s gain. Led by Michael Saylor, the company’s bullish views on bitcoin have resonated with investors, despite a 10% revenue drop in Q3. Short interest in the stock has declined sharply.

The company remains the largest corporate holder of bitcoin, relying on cryptocurrency momentum as its core business struggles. Retail inflows averaged $3.75 million per day before the surge, with short interest dropping to 12.98% of free float. MicroStrategy’s inclusion in the Nasdaq-100 could attract more interest, with bitcoin prices driving its performance.

MicroStrategy’s stock rally highlights its correlation with bitcoin’s momentum, appealing to investors seeking exposure to the cryptocurrency market. Despite concerns about business software revenue and volatility linked to bitcoin, the company’s visibility and credibility have increased. Institutional interest and retail demand for crypto-linked equities continue to grow.



Read more at Nasdaq: MicroStrategy surges on Nasdaq-100 inclusion as bitcoin momentum grows