Strategy Overtakes Nasdaq as MSTR Stock Surges to 3-Month High
Strategy (NASDAQ: MSTR) stock price surged by 17.5% on September 3, closing at $144 after a broader crypto market recovery. Bitcoin (BTC) price touched $80,000, contributing to the uptrend.
The gains led Strategy to overtake several large-cap companies in market capitalization, including Nasdaq Inc. Coinbase shares jumped 10%, while Circle stock gained 16%. Robinhood shares also recorded a 16% gain.
MSTR's CEO, Phong Le, stated that the company was created to 'beat Bitcoin', and it has achieved this purpose as BTC returned 35% each year, while MSTR has returned between 47% and 50%.
The stock price broke above the resistance of $119 and moved above the middle Bollinger band of $126, suggesting a bullish trend. If the gains continue, Strategy shares could test the resistance at $177.