Strategy Stock Falls 4.5% Amid Cryptocurrency Volatility

Strategy (MSTR) shares fell 4.5% in the afternoon session on July 31, 2026, after the company reported a massive second-quarter earnings miss due to cryptocurrency volatility.

The company's core software business met analyst expectations with revenue growth of 6.9% year-over-year to $122.4 million, but this steady performance was overshadowed by a staggering GAAP loss of $24.45 per share.

The primary culprit behind the massive bottom-line deficit was the adoption of new fair-value accounting rules during a crypto pullback, resulting in an unrealized loss of $8.32 billion on digital assets.