MicroStrategy’s shares declined 7.7% in afternoon trading, pulling back from a session high of $135.96 to $126.82, despite remaining well above its 52-week low of $81.81.
The retreat followed a recent $2 billion equity raise completed between August 17 and August 23, during which the company sold approximately 18.26 million shares through at-the-market offerings. Proceeds from the sale were not used to purchase additional bitcoin.
Bitcoin’s price also softened, falling roughly 3% on the day, while broader equity benchmarks slipped modestly: the NASDAQ declined 0.6% and the S&P 500 eased 0.3%.
Analysts at Bernstein reduced their price target on MicroStrategy to $350 from $450 on August 26, citing valuation concerns. The firm’s outlook follows a prior weekly surge in the stock of about 37% from mid-August lows.
