- MicroStrategy raised its latest convertible note offering by $200 million from an original plan of $500 million.
- It also offered initial buyers an option to purchase an additional $100 million of the notes.
- Broker Bernstein set a $2,890 price target for the company’s shares.
In a recent press release, the company based in Tysons Corner, Virginia announced that it would offer unsecured, senior notes to institutional investors, with a maturity date in June 2032. The initial purchasers were also given an option to buy additional $100 million of notes within 13 days following the first issuance. The company aims to finalize this offering by Monday and intends to utilize the proceeds primarily for acquiring more bitcoin, as well as for general corporate purposes.
I, as an analyst, observed that the company’s shares gained approximately 2% during early trading on Friday. The shares were being traded slightly above $1,500. Yesterday, there was a significant decline of 7.5%. Notably, Bernstein, a brokerage firm, initiated coverage on Microstrategy today with a price target set at $2,890 and an outperform rating assigned.
Read More
- PENDLE PREDICTION. PENDLE cryptocurrency
- CKB PREDICTION. CKB cryptocurrency
- EUR INR PREDICTION
- PBX PREDICTION. PBX cryptocurrency
- ICP PREDICTION. ICP cryptocurrency
- USD DKK PREDICTION
- GEAR PREDICTION. GEAR cryptocurrency
- USD VND PREDICTION
- CSIX PREDICTION. CSIX cryptocurrency
- IMX PREDICTION. IMX cryptocurrency
2024-06-14 17:59