MicroStrategy Shares Hit $81.81 Low as Market Cap Falls Below NAV
MSTR•MicroStrategy shares plunged to an annual low of $81.81 after falling over 29% in eight consecutive sessions. The company’s market capitalization fell below its Bitcoin NAV for the first time even as it holds $6.75 billion in debt, $15.5 billion in preferred securities, and cash covering under a year of dividends.
1. Stock Slump and Annual Low
MicroStrategy shares fell over 3.5% on Friday, hitting $81.81 for an annual low, extending an eight-day selloff and erasing roughly 29% of its value last week.
2. Market Capitalization vs Bitcoin NAV
The company’s market cap dipped below the net asset value of its Bitcoin holdings for the first time, indicating investors now value the stock at less than its underlying crypto assets.
3. Financial Obligations and Cash Coverage
MicroStrategy carries $6.75 billion in debt and $15.5 billion in preferred securities, while its cash reserves cover under one year of dividend commitments, highlighting potential liquidity strain.
4. Management Response and Retail Sentiment
Executive Chairman Michael Saylor hinted at further Bitcoin acquisitions by sharing an acquisition-tracking chart, signaling a continued bullish stance despite the selloff, and retail sentiment remained bullish with high message volumes.
