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MicroStrategy stock finally takes a breather following massive BTC-inspired rally

Published 01/11/2021, 01:43 PM
Updated 01/11/2021, 03:20 PM
MicroStrategy stock finally takes a breather following massive BTC-inspired rally
BTC/USD
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Shares of MicroStrategy (MSTR), a business intelligence firm with considerable exposure to Bitcoin (BTC), declined sharply on Monday as profit-taking ensued following a parabolic rally over the past month.

The stock touched an intraday low of $464.51 in New York trading, representing a decline of almost 13%. It would later pare losses to trade around $500 pe share. At current values, the company has a total market capitalization of around $4.6 billion. Last week, the stock peaked just below $512, marking a new all-time high.

MSRT went parabolic after CEO Michael Saylor decided to buy Bitcoin. Source: Yahoo Finance

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