Workflow
Can MicroStrategy (MSTR) Stock Short Squeeze Even Higher?
MSTRMicroStrategy(MSTR) InvestorPlace·2024-03-11 13:43

MicroStrategy (NASDAQ:MSTR) bought more Bitcoin (BTC-USD), sending prices of the cryptocurrency over 72,000anditsownstockhigher.Thecompanyusedconvertibledebttobuy12,000Bitcoin.Atthesametime,shortinterestinMSTRstockhasincreasedtoover2072,000 and its own stock higher.The company used convertible debt to buy 12,000 Bitcoin. At the same time, short interest in MSTR stock has increased to over 20%, according to Fintel.The short-term impact is predictable. Both MicroStrategy and Bitcoin are up. MSTR stock gained 9.6% on March 8 and another 9.4% over the weekend. It opened this morning at 1,546 per share, a market capitalization of over $26 b ...