ChainCatcher news: According to Coindesk, although MicroStrategy (MSTR) reported second-quarter revenue that fell short of expectations, Wall Street brokerage Benchmark still raised the target price for MSTR stock to $2,150 and gave it the highest rating. (The current stock price is only $1,447)
MSTR stock has gained 1,206% since adding Bitcoin as its primary reserve asset in August 2020, Benchmark analyst Mark Palmer wrote in a research note on Friday. Since then, the stock’s performance has contrasted with Bitcoin (BTC), the S&P 500, and the Nasdaq, which have risen 442%, 64%, and 60%, respectively.
The company on Thursday reported a second-quarter net loss of $102.6 million as it took an impairment loss of $180.1 million on its bitcoin holdings. The company currently holds 226,500 bitcoins, which it purchased at an average price of $36,821 each.
