Shares of business analytics software company MicroStrategy (NASDAQ:MSTR) fell 7.7% in the morning session after the company sold 592,987 shares for approximately $209 million. The company used the proceeds to acquire approximately 2,

Shares of MicroStrategy now sit firmly on their $300 price tag, which should also be considered significant as a round number. A break below $300 will increase selling pressure on the stock, targeting a retracement to $250, an 18% decline.

The last time MicroStrategy disclosed share sales and bitcoin buying was Dec. 23, when it sold $561 million in shares to buy about 5,262 bitcoins at an average price of $106,662.

Key Takeaways MicroStrategy announced a purchase of around $209 million in bitcoin Monday.The company has now announced new bitcoin purchases for eight consecutive weeks.This latest round of buying has pushed MicroStrategy's total bitcoin holdings to 446,

MicroStrategy (NASDAQ:MSTR) acquired 2,138 bitcoins (BTC-USD) for $209M in the past week, bringing its holdings to 446,400 bitcoins as of Dec. 29, 2024, which were bought for ~$27.9B, the company disclosed on Monday.