• Tue. Feb 7th, 2023

What’s Going On With Bitcoin-Linked Stock MicroStrategy After-Hours? – MicroStrategy (NASDAQ:MSTR)

ByAdam Eckert

Nov 1, 2022
What's Going On With Bitcoin-Linked Stock MicroStrategy After-Hours? - MicroStrategy (NASDAQ:MSTR)

MicroStrategy Inc MSTR shares are trading higher in Tuesday’s after-hours session after the company reported third-quarter financial results.

MicroStrategy said third-quarter revenue decreased 2.1% year-over-year to $125.4 million, which missed average analyst estimates of $127.58 million, according to Benzinga Pro. The company reported a quarterly net loss of $2.39 per share, which improved from a net loss of $3.61 per share year-over-year.

MicroStrategy owns approximately 130,000 Bitcoin BTC/USD at an average price of approximately $30,639 per bitcoin. As of Sept. 30, the original cost basis of MicroStrategy’s Bitcoin was $3.983 billion, and the current market value was $2.532 billion.

“Furthering the commitment to our bitcoin strategy, MicroStrategy acquired approximately 301 additional bitcoins this quarter and remains the world’s largest publicly traded corporate owner of bitcoin, with total holdings of 130,000 bitcoins. We incurred a minimal bitcoin impairment charge as bitcoin prices were stable during the third quarter,” said Andrew Kang, CFO of MicroStrategy.

Related Link: Why This Argo Blockchain Analyst Is No Longer Bullish

MSTR Price Action: MicroStrategy has a 52-week high of $576.26 and a 52-week low of $134.09.

The stock was up 2.26% in after-hours at $263 at the time of publication.

Photo: Ricardo Goncalves from Pixabay.



Image and article originally from www.benzinga.com. Read the original article here.