MicroStrategy (MSTR) just knocked it out of the park, becoming the most traded stock in the United States today. With $18.6 billion in trading volume, it’s outshining Tesla (TSLA) and Nvidia (NVDA), two giants that practically own the trading floors.
This hasn’t happened in a while. Why now? Michael Saylor’s Bitcoin obsession is driving investors wild. MicroStrategy has turned its stock into a Bitcoin proxy, and the market is hooked.
Just this morning, the company announced plans to sell convertible senior notes—again. For MicroStrategy, this isn’t new. It’s their go-to play for raising funds to buy more Bitcoin. Every time they do this, their Bitcoin stack grows, their stock soars, and traders pile in.
Bitcoin meets Wall Street chaos
Let’s break it down. MicroStrategy used to be a $1 billion company when it first dipped into Bitcoin four and a half years ago. Today, it’s in a different league.
The market cap is now unrecognizable, all because Saylor decided to bet the farm on Bitcoin. His moves have lit a fire under other companies.
Case in point: Rumble’s CEO asked his audience on X (formerly Twitter) if they should add Bitcoin to their balance sheet.
Nearly 94% of the 42,522 voters said, “Hell yes.” And guess who offered to help them figure it out? Yep, Saylor himself. Public companies are joining the Bitcoin club left and right.
What’s driving MSTR’s trading frenzy?
It’s all about volatility, and traders live for it. Every move Bitcoin makes, MSTR amplifies. If Bitcoin goes up, MSTR skyrockets. If Bitcoin dips, MSTR nosedives. For day traders, it’s a playground.
But let’s not ignore the risks. This strategy makes MSTR a rollercoaster ride. Bitcoin is infamous for its cycles—bull markets with insane highs and bear markets with brutal crashes.
History shows Bitcoin corrections can exceed 70%. If that happens, what does it mean for MicroStrategy? Does it have a backup plan? Or are they all in, come what may?
Other stocks in the spotlight
While MicroStrategy stole the show, it wasn’t the only name buzzing today. Williams-Sonoma saw its shares skyrocket by 29% after smashing Wall Street’s expectations for the third quarter. They pulled in $1.96 per share on $1.80 billion in revenue, beating estimates. And they raised their full-year guidance, which is rare these days.
Over at Ford, things weren’t so great. The automaker’s stock dropped 3% after it announced plans to cut 14% of its European workforce. The company cited weak demand for electric vehicles, lack of government incentives, and brutal competition. Ford’s struggles highlight how hard it is for legacy automakers to transition to EVs.
Nvidia, a usual favorite, dipped 1%. Investors are holding their breath ahead of its fiscal third-quarter earnings report. Analysts expect the chipmaker to post 80% revenue growth year-over-year, but even slight misses could rattle the market.
Meanwhile, Target took a beating. Its shares plunged over 21% after disappointing third-quarter numbers and slashing its full-year outlook. CEO Brian Cornell blamed “lingering softness in discretionary categories.” Translation: people aren’t spending as much on non-essentials, and it’s hurting retail giants.
Other stocks made quieter moves. Robinhood rose over 3% after upgrading its rating and announcing plans to buy TradePMR for $300 million. Lemonade jumped 15% after a Morgan Stanley upgrade, while AppLovin gained 4.8% on a bullish analyst note.
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