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MicroStrategy Inc (NASDAQ:MSTR) shares are calm on Monday after rising 14.4% on Friday on the back of continued upward momentum for Bitcoin (CRYPTO: BTC) and the broader crypto space. Here’s what you need to know.
What To Know: MicroStrategy shares have been seeing increased attention in recent trading sessions amid a rebound in the price of bitcoin.
Bitcoin is up about 7% over the past week as sentiment continues to improve and money continues to pour into digital asset investment products, which saw $1.35 billion in inflows last week, bringing total inflows over the past three weeks up to $3.2 billion. ETF trading volumes were also up about 45% on a week-over-week basis.
MicroStrategy is also seeing increased attention ahead of earnings and a stock split that is set to take effect in the coming weeks.
MicroStrategy will report financial results for the second quarter after the market close on Aug. 1. The company is expected to report a loss of $1.10 per share and quarterly revenue of $122.6 million, according to estimates from Benzinga Pro.
MicroStrategy will also enact a 10-for-1 stock split by means of a dividend to holders of record as of the market close on Aug. 1. Holders of MicroStrategy shares will receive nine additional shares for each share held. The shares are expected to be distributed after the market close on Aug. 7. MicroStrategy stock is expected to begin trading on a split-adjusted basis at the market open on Aug. 8.
MicroStrategy is a business intelligence, mobile software and cloud-based services company, focused on accumulating bitcoin. Last month, the company raised $800 million through a convertible note offering. MicroStrategy said it planned to use the proceeds to acquire additional bitcoin. MicroStrategy held 226,331 bitcoin as of June 20.
Don’t Miss: Bitcoin Dominates, Ethereum Rebounds: Here’s How Much Crypto Funds Raked In Last Week
MSTR Price Action: MicroStrategy shares were down 1.77% at $1,746.95 at the time of publication, according to Benzinga Pro.
Photo: Eivind Pedersen from Pixabay.
