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MicroStrategy Drops a Second Day After SEC Accounting Objection

Jan. 24, 2022, 9:28 PM

The slide in MicroStrategy Inc. shares extended to a second day as investors reassessed the company’s Bitcoin buying strategy in the wake of an unfavorable accounting ruling by the Securities and Exchange Commission.

The shares fell as much as 15% before recovering most of the losses as equity markets rebounded late Monday. At one point, the two-day drop was almost 30%, the most since it tumbled 42% over two days in June 2002. MicroStrategy finished down 1.5% to $370.45 on Monday.

Michael Saylor, chairman and chief executive officer of MicroStrategy Inc.
Source: Bloomberg

The Tysons Corner, Virgina-based enterprise software maker run by Michael Saylor, which said in 2020 that buying and ...