Cryptocurrencies
MicroStrategy Bulls Unfazed by Double Dose of Pain
- Software company’s shares have slid more than Nasdaq, Bitcoin
- Three out of four analysts covering stock still say buy
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Shares of MicroStrategy Inc. have been hit hard this year as its once-winning approach of being a tech company that also holds billions of dollars in Bitcoin sends investors rushing for the exit. Analysts are holding fast in their bullishness.
Three of the four brokerages that follow the software company recommend buying the shares, with an average price target that’s more than triple where the stock closed Wednesday, according to data compiled by Bloomberg.