MicroStrategy’s Share Slide Accelerates After SEC Accounting Ruling
- Shares erased most of earlier losses as equities rebounded
- SEC recent comment letters enforce GAAP accounting rules
Michael Saylor
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
The slide in MicroStrategy Inc. shares extended to a second day as investors reassessed the company’s Bitcoin buying strategy in the wake of an unfavorable accounting ruling by the Securities and Exchange Commission.
The shares fell as much as 15% before recovering most of the losses as equity markets rebounded late Monday. At one point, the two-day drop was almost 30%, the most since it tumbled 42% over two days in June 2002. MicroStrategy finished down 1.5% to $370.45 on Monday.