MicroStrategy down 16% after short-seller’s report
Andrew Left, a notorious short-seller, tweeted negatively about MicroStrategy (NASDAQ:MSTR) 13 minutes into Thursday’s trading session. Within 90 minutes, the stock had declined 16% and it closed the day without recovering. Although Left congratulated CEO Michael Saylor for his “visionary bitcoin strategy,” Left concluded, “MSTR’s volume has completely detached from BTC fundamentals.” The Citron Research founder then disclosed that he had sold short. MicroStrategy has been a public company since June 1998 and hit an all-time high of $548.20 around the time of Left’s tweet on Thursday. It closed considerably lower, however, at $397.28 per share . How did this one age? Nearly 4 years ago to the date, Citron was the first to tell readers that MicroStrategy was the ultimate way to invest in Bitcoin, setting a $700 target. Fast forward to today: $MSTR has skyrocketed to over $5,000 (adjusted). Kudos to Michael Saylor for… — Citron Research (@CitronResearch) November...