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MicroStrategy’s stock closes more than 50% down from its all-time trading high

MicroStrategy’s stock closes more than 50% down from its all-time trading high
The publicly-traded business intelligence firm MicroStrategy has won plaudits for its bitcoin-centric treasury approach in recent months.
But the firm's stock price has fallen significantly since it peaked in early February. Data from Nasdaq shows that MSTR closed on February 9 at $1,272.94, having hit an all-time trading session high of $1,315.
The MSTR stock price closed at $645.66 Thursday. That represents a decline of 50.9% from the February 9 trading high and a 49.2% decline from the closing price that day.
The chart below illustrates MSTR's decline from the high:

As previously reported, MicroStrategy added $1.02 billion in bitcoin to its treasury late last month after raising roughly that amount in a corresponding debt offering. MicroStrategy disclosed its most recent purchase on March 1, accounting for $15 million in bitcoin.
According to data collected by The Block, MicroStrategy's total bitcoin holdings stand at 90,859 BTC -- an amount worth $4.36 billion.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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