Overview
- Shares fell about 2% Thursday to roughly $336, leaving the stock down around 20% over the past month.
- Monness, Crespi, Hardt’s Gus Galá reaffirmed a Sell rating with a $175 price target and warned the market cap relative to Bitcoin holdings is likely to narrow.
- Galá pointed to ongoing skepticism over the company’s debt- and equity-funded Bitcoin purchases and questioned the likelihood of near‑term investment‑grade ratings.
- Strategy reports more than 629,000 Bitcoin on its balance sheet, valued above $71 billion as of Aug. 21, making it the largest corporate holder.
- Hedge fund manager Josh Mandell said he exited his stake this week, citing share sales below a value threshold previously suggested by Michael Saylor.