Recent News, Financial, and Technical Position

MicroStrategy Inc. (NASDAQ: MSTR) stock has been one of the favorites for investors since these days. The stock has returned more than 100% wealth of its investors since the start of November 2023. 

News and Financial Position of Microstrategy

MicroStrategy, Inc. facilitates the provision of enterprise analytics and mobility software. The firm designs, develops, markets, and sells software platforms through licensing arrangements cloud-based subscriptions, and related services.

The company reportedly Acquired 12,800 bitcoins since Q1 for $361.4 million. Till July, the company reported to hold more than 152,800 bitcoins acquired, which was acquired for a total cost of $4.53 billion. However, during the earnings presentation for the 3rd quarter of 2023 ended in November, the company did not mention its holdings in bitcoins. 

Just a month later, in December 2023, MicroStrategy purchased an additional 14,620 Bitcoin for $615 million. Just Two days ago this writing, Michael Saylor was reportedly planning to sell his company’s stocks worth almost $216 million to buy bitcoin. 

Recent Financials of MicroStrategy, Inc.

The company has made a revenue of $129.5 million in the 3rd quarter of fiscal 2023. This was an increase of 3% if compared with the 3rd quarter of last year. More importantly, the revenue from subscription services showed up at $21 million, this was a significant increase of 28% year on year. The company has also made a significant increase of 16% year on year by providing software licenses. 

The company reported a negative net profit of $143 million. It further caused a decrease in the Trailing twelve months of net profit which is standing at $90 million as of this writing. 

The stock is giving a great return on equity with a percentage of 28.2%, which means the equity of investors is doubling in value every 2.5 years. One of the major profit eaters in the current financial year is the non-operating expenses of the company, during this quarter a sum of $42 million was spent outside of the operational expenses.

Technical Analysis of MSTR Stock Price

The MSTR stock price is currently trading at the level of $631 between the immediate support level of $567 and the resistance level of $745. If the bullish investors in the stock cross this resistance level, then the next target price for them will be at $875. 

On the other side, if the bears take control, there is likely that the current support will be broken. The RSI on the other hand is showing a level of $56, which means that the pressure is neutral. Along with that, the 50-day EMA and the 150-day EMAs have done a bullish crossover, which depicts the strength of bulls in the recent trading sessions.

Conclusion

MicroStrategy Inc. (NASDAQ: MSTR) gave pretty good results both financially and technically to the investors. The company has posted its revenue with a growth of 3% while making a net loss of $143 million. Moreover, the MSTR stock price has a bullish move in the last few months, giving a gain of more than 100% to the investors

Technical levels

Support levels:  $567 and $473

Resistance levels: $745 and $875. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading stocks comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.