MicroStrategy (MSTR) shares have plunged by about 9.07% to $1,735.74, a drop that might be a reaction to the stock short position from investment asset management firm Kerrisdale Capital
Kerrisdale Capital Shorts MicroStrategy, Longs Bitcoin
On Thursday, Kerrisdale Capital revealed its plans to short-sell its MSTR stock and bet long on the leading cryptocurrency by market capitalization Bitcoin (BTC). The short seller acknowledged the recent jump in the price of the MicroStrategy shares as Bitcoin price also surged. However, the firm stated that this “is often the case with crypto, things have gotten carried away.”
The firm believes that MSTR will not be an exception. Already the price of Bitcoin implied in MSTR shares price is now over $177,000, which is more than two and half times the spot price of the cryptocurrency. Kerrisdale Capital noted that none of the reasons cited for MSTR attractiveness justifies paying more than double for the same coin.
GM. We’re short $MSTR and lo
We współpracy z: https://coingape.com/microstrategy-mstr-slumps-9-as-kerrisdale-capital-shorts-the-stock/
