MicroStrategy Stock Drops After News of Convertible Notes Offering—Key Level to Watch

Key TakeawaysMicroStrategy shares, which gained 24% on Monday, moved lower in premarket trading Tuesday after the Bitcoin development company announced a $600 million convertible senior notes offering to buy more Bitcoin.The company purchased an additional 3,000 bitcoins between Feb. 15 and Feb. 25, taking its total holding to 193,000 bitcoins.MicroStrategy's 2021 high at$1,315 may become a future support area on the chart if the price continues its upward momentum. MicroStrategy (MSTR) shares, which gaine ...