Money
MicroStrategy Trading at NAV After Years of Premium Signals Bitcoin Market Peak
Forward Guidance
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"The stock is like down 90% from the highs in a fairly like orderly fashion. And now everyone's like, oh wow, Saylor, you're like— after cheering him on for so long."
Quinn noted that MicroStrategy now trades at net asset value parity after years of trading at a premium, with the stock down approximately 90% from highs. He highlighted the irony that Bitcoin industry participants who criticized the strategy faced harassment for years but are now vindicated as the leverage model faces 6% annual dilution on common shares just to service debt and preferred obligations.
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Forward Guidance