Q2 STOCKS TO BUY

Bitcoin Buzz Pushes MicroStrategy Stock Higher

The security has had a particularly volatile February

Digital Content Manager
Feb 16, 2021 at 9:58 AM
facebook X logo linkedin


MicroStrategy Incorporated (NASDAQ:MSTR) is set for its third-straight pop today, after the company said it plans on offering six-year $600 million convertible senior notes in order to raise capital to buy more Bitcoin. There's been plenty of buzz surrounding the cryptocurrency of late, including Tesla's (TSLA) big grab and this morning's surge above the $50,000 level. MSTR was last seen up 3.6% at $1,071.16. 

It's been a volatile month for the equity, which toppled the $900 mark early last week, quickly nabbing a nearly 21-year high before taking a steep nosedive. The security looks to have regained some of its footing near the $975 region, however, and for the year, it boasts an impressive 166.2% lead. 

Despite this, short sellers  have been building their positions. In the last two reporting periods, short interest grew 16.4%, and now makes up almost 20% of the stock's available float, or a little under two days of pent-up buying power. And while most analysts are quiet on MSTR, the single analyst in coverage considers it a "strong sell."

The options pits aren't so pessimistic, though. Data from the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows that in the last 10 days, 9,414 calls were exchanged -- almost triple the 3,304 puts picked up in the same time period. 

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter