MSTR Surges 18% on Dovish Rate Signal, Still Down 56% in a Year

The Nasdaq's biggest gainer on Thursday was Strategy (NASDAQ:MSTR), a leveraged Bitcoin holding company, which surged 18% to $144.82 after Fed Governor Christopher Waller said he would support keeping interest rates steady.

This move contradicts the CNBC panel that warned three days earlier of a hawkish Fed and debt financing making Strategy's resumed Bitcoin buying risky.

Despite Thursday's rally, MSTR is still down 56% over the past year, while Bitcoin has fallen roughly 31%. The company carries $6.7 billion in convertible debt and $400.7 million in preferred dividend obligations against 846,000 BTC marked below cost basis.