Strategy Stock Regains Some Ground After Stock-repurchase, Bitcoin-sale Plans
Dow Jones00:33
Strategy stock moved higher Monday after the company said it plans to buy back stock and sell bitcoin among many moves aimed at stemming a loss of confidence in the crypto-hoarding company.
Today's announcement at Michael Saylor's firm follows a rough stretch for its stock. It came after both Strategy's common and preferred shares had plummeted in recent days, while bitcoin fell below the psychologically important threshold of $60,000.
Strategy shares moved about 7.5% higher on the day, but are still down more than 40% in June.
At the request of the copyright holder, you need to log in to view this content
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