Nasdaq's Top Gainer: Strategy Surges 18%, but Shareholders Still Down 56%
The Nasdaq's biggest winner on Thursday was Strategy (NASDAQ:MSTR), which surged 18% to close at $144.82.
Despite this impressive gain, Strategy's shareholders are still sitting on a loss of 56% over the past year, dwarfing Bitcoin's (CRYPTO:BTC) own slide of 31% during that time.
The company's leveraged position in Bitcoin was fueled by Fed Governor Christopher Waller's comment that he would be 'inclined to support holding rates steady,' which dropped September rate-hike odds from 63% to 50%
This shift in the market had a significant impact on Treasury yields, which fell, and Strategy's share price.
However, it's worth noting that the same leverage that fueled Thursday's rally can also cut the other way, putting holders at risk of significant losses.