MSTR Stock Surges on New USD Cash Pool and Raised Price Target
MicroStrategy's stock price has surged by 2.52% following news of its transformative strategic partnership announcement.
The company's decision to create a new 'USD Cash' pool inside its Digital Credit Capital Framework, seeded with $2.01B in recent stock sale proceeds, has been met with enthusiasm from traders and investors.
According to Canaccord, MicroStrategy's price target has been raised to $175 from $130, while Bernstein trimmed its target to $350 from $450 but maintained an Outperform view.
The company now holds 840,447 BTC bought for about $63.36B and paused bitcoin trading between August 10th and 16th.