MicroStrategy Stock Slides to $124 After $12.4B Q4 Loss, Short Revealed
George Noble disclosed a short position in MicroStrategy, highlighting its Q4 net loss of $12.4 billion and stock decline from a 52-week high above $457 to around $124. He criticized Michael Saylor’s Bitcoin bullishness as a “cult,” noting BTC has slid roughly 50% since its October 2025 peak near $126,000.
1. Noble Discloses MicroStrategy Short
George Noble, the former Fidelity manager, revealed a short position in MicroStrategy following the company’s sharp share decline. He cited excessive Bitcoin exposure and potential cash flow strains as primary drivers for his bearish stance.
2. Q4 Financial Results and Share Decline
MicroStrategy reported a Q4 net loss of $12.4 billion driven by write-downs on its digital asset holdings. The huge loss contributed to the stock’s fall from a 52-week peak above $457 to approximately $124, intensifying investor concerns.
3. Bitcoin Decline and Saylor Critique
Noble labeled Michael Saylor’s Bitcoin strategy “a cult,” pointing out that Bitcoin prices have tumbled about 50% since the October 2025 high near $126,000. He warned that such volatility undermines MicroStrategy’s earnings outlook and long-term valuation.