MicroStrategy's Stock Falls After Convertible-Debt Offering Plan -- MarketWatch

Dow Jones06-13

Shares of MicroStrategy Inc. $(MSTR)$ fell 0.9% in premarket trading Thursday, after the business-analytics and bitcoin play said it planned to offer $500 million in convertible debt. The senior notes, due 2032, would be convertible to cash, MicroStrategy shares or a combination of both. The company, said it plans to use the proceeds from the sales of debt to buy more bitcoin (BTCUSD) and for general corporate purposes. The expected potential pricing of the debt was not provided. Separately, the company said it would fully redeem the $650 million in outstanding 0.75% convertible notes due 2025. While the MicroStrategy's primary business is software, its stock has moved more like bitcoin than its software peers since it adopted the cryptocurrency as its primary treasury reserve asset. The stock has run up 153.9% year to date, while bitcoin has rallied 61.3%, the SPDR S&P Software & Services ETF $(XSW)$ has slipped 1.3% and the S&P 500 has climbed 13.7%.

-Tomi Kilgore

For more from MarketWatch: http://www.marketwatch.com/newsviewer

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 13, 2024 06:54 ET (10:54 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2443506461?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-06-13 18:54","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2443506461","market":"sg","top_or_hot":-1,"title":"MicroStrategy's Stock Falls After Convertible-Debt Offering Plan -- MarketWatch","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     Shares of MicroStrategy Inc. <a href=\"https://laohu8.com/S/MSTR\">$(MSTR)$</a> fell 0.9% in premarket trading Thursday, after the business-analytics and bitcoin play said it planned to offer $500 million in convertible debt. The senior notes, due 2032, would be convertible to cash, MicroStrategy shares or a combination of both. The company, said it plans to use the proceeds from the sales of debt to buy more bitcoin (BTCUSD) and for general corporate purposes. The expected potential pricing of the debt was not provided. Separately, the company said it would fully redeem the $650 million in outstanding 0.75% convertible notes due 2025. While the MicroStrategy's primary business is software, its stock has moved more like bitcoin than its software peers since it adopted the cryptocurrency as its primary treasury reserve asset. The stock has run up 153.9% year to date, while bitcoin has rallied 61.3%, the SPDR S&amp;P Software &amp; Services ETF <a href=\"https://laohu8.com/S/XSW\">$(XSW)$</a> has slipped 1.3% and the S&amp;P 500  has climbed 13.7%. \n</p>\n<p>\n     -Tomi Kilgore \n</p>\n<p>\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 13, 2024 06:54 ET (10:54 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MicroStrategy's Stock Falls After Convertible-Debt Offering Plan -- MarketWatch</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMicroStrategy's Stock Falls After Convertible-Debt Offering Plan -- MarketWatch\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-13 18:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of MicroStrategy Inc. $(MSTR)$ fell 0.9% in premarket trading Thursday, after the business-analytics and bitcoin play said it planned to offer $500 million in convertible debt. The senior notes...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XSW","symbol_name":"SPDR S&P Software And Services ETF","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2443506461","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2443506461","pubTimestamp":1718276040,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of MicroStrategy Inc.  fell 0.9% in premarket trading Thursday, after the business-analytics and bitcoin play said it planned to offer $500 million in convertible debt. The senior notes, due 2032, would be convertible to cash, MicroStrategy shares or a combination of both. The company, said it plans to use the proceeds from the sales of debt to buy more bitcoin  and for general corporate purposes. The expected potential pricing of the debt was not provided. Separately, the company said it would fully redeem the $650 million in outstanding 0.75% convertible notes due 2025. While the MicroStrategy's primary business is software, its stock has moved more like bitcoin than its software peers since it adopted the cryptocurrency as its primary treasury reserve asset. The stock has run up 153.9% year to date, while bitcoin has rallied 61.3%, the SPDR S&P Software & Services ETF  has slipped 1.3% and the S&P 500  has climbed 13.7%.This content was created by MarketWatch, which is operat","collect":0,"end_time":0,"defaultTopTitle":"","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"XSW":"SPDR S&P Software And Services ETF"},"translate_title":"MicroStrategy股价在可转换债券发行计划后下跌——MarketWatch","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XSW":0.9},"content_text":"Shares of MicroStrategy Inc. $(MSTR)$ fell 0.9% in premarket trading Thursday, after the business-analytics and bitcoin play said it planned to offer $500 million in convertible debt. The senior notes, due 2032, would be convertible to cash, MicroStrategy shares or a combination of both. The company, said it plans to use the proceeds from the sales of debt to buy more bitcoin (BTCUSD) and for general corporate purposes. The expected potential pricing of the debt was not provided. Separately, the company said it would fully redeem the $650 million in outstanding 0.75% convertible notes due 2025. While the MicroStrategy's primary business is software, its stock has moved more like bitcoin than its software peers since it adopted the cryptocurrency as its primary treasury reserve asset. The stock has run up 153.9% year to date, while bitcoin has rallied 61.3%, the SPDR S&P Software & Services ETF $(XSW)$ has slipped 1.3% and the S&P 500  has climbed 13.7%. \n\n\n     -Tomi Kilgore \n\n\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 13, 2024 06:54 ET (10:54 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2443506461"}