Bitcoin Slump Sends MicroStrategy Stock Tumbling – Can Crypto King Bounce Back?
Stock Price and Recent Movements MicroStrategy’s shares have been volatile in October. On Oct. 30 the stock closed around $257.80 – down 6.4% stockanalysis.com – after trading as high as about $295 earlier that week. Over the prior five trading days MSTR fell from roughly $299 on Oct. 27 to about $258 by Oct. 30 stockanalysis.com. This pullback comes after an October rally: the stock briefly traded in the mid-$350s in early October when Bitcoin hit new highs ts2.tech. Indeed, MicroStrategy’s stock is extremely sensitive to crypto swings (its beta is ~3.8) ts2.tech. To put it in perspective, MSTR had