MicroStrategy stock tumbles from early highs as Citron Research announces short position, despite 582% YTD gains and recent $4.6B Bitcoin purchase.

Shares of business analytics software company MicroStrategy (NASDAQ:MSTR) jumped 15% in the afternoon session after the company announced the pricing of a new private offering of $2.6 billion in convertible senior notes due in 2029.

The big moves in MicroStrategy stock are just another sign that things may not be quite right with the market. MicroStrategy stock has had a heck of a rally. At Wednesday’s peak of $473.83, shares had gained nearly 600% this year,

Citron said it had hedged its perspective with a short position against MicroStrategy, even though it maintained a positive outlook on BTC. Supported by robust investor attitude toward BTC markets, MicroStrategy shares remain up 78% from Election Day and have gained 529% YTD despite Thursday's selloff.

Michael Saylor's MicroStrategy completes $3B in note offering for fresh Bitcoin purchases, with MSTR Stock clocking $50B in trading volume.

MicroStrategy Inc shares tumbled after Andrew Left’s Citron Research said in a post on X that it’s betting against the software company, which has effectively transformed itself into a Bitcoin investment fund.

MicroStrategy shares plummeted sharply lower on Thursday after Citron Research said it shorted the stock against a long position in Bitcoin. “Much respect to @saylor, but even he must know $MSTR is overheated,

MicroStrategy's big bets on bitcoin mean investors need to know what they're buying — and their own investing strategies.