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NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Defiance ETFs, a leading provider of leverage-focused exchange-traded funds (ETFs), has filed with the SEC to increase the leverage exposure on its flagship MSTX (MicroStrategy) ETF from 1.75x to 2x.
Michael Saylor, MicroStrategy executive chairman, joins 'Squawk Box' to discuss the company's Bitcoin investment, what MicroStrategy the company still does, and the impact of new ETFs on the price of Bitcoin.
Barclays analyst Ramsey El-Assal initiated coverage on MicroStrategy Inc (NASDAQ:MSTR) with an Overweight rating and a price target of $146. El-Assal flagged the company's unique differentiated vehicle that allows public company investors to gain exposure to bitcoin, resilient capital deployment model offering a long runway for continued bitcoin accumulation and protection from black swan liquidity events, software performance backed by a fast-growing TAM and demand for next-gen technology, the mix shift towards subscription services leading to higher-margin and recurring revenue and the software business' high retention rates.
Economic uncertainties and interest rate concerns contributed to Bitcoin's drop last month. The cryptocurrency typically sees price gains months after its halving events, but the expected gains should come a bit later.
A grand total of 13 prominent businesses have announced stock splits since the start of 2024. Two brand-name companies, with well-defined competitive advantages, are priced to be bought by opportunistic long-term investors.
MIAMI, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Defiance ETFs, a leading innovator in exchange-traded funds, is excited to announce the launch of SMST: Defiance Daily Target 1.5X Short MSTR ETF. We believe this is a groundbreaking ETF—the first of its kind in the U.S. market—providing investors with 150% inverse daily exposure to MicroStrategy (NASDAQ: MSTR), a company renowned for its substantial investment in Bitcoin.
MicroStrategy stock is up over 100% in 2024. The enterprise software company holds 226,500 Bitcoins.
Technology is at the center of discussions on today's Big 3. Joel Hawthorne joins Nicole Petallides and Ben Lichtenstein to talk about the technical trends for Tesla (TSLA), Microstrategy (MSTR), and SoFi (SOFI).
MicroStrategy shares have doubled in 2024 and tripled over the last year. Bitcoin gained 36% and 97% over the respective periods.
MicroStrategy stock is up substantially year to date even though the company swung to a net loss. Cost-discipline watchers might object to MicroStrategy's willingness to incur debt to purchase Bitcoin.