US Market Movers & Shakers in March: MSTR, GPS, WSM, SCCO and More
Shares of $MicroStrategy (MSTR.US)$ have soared 66.65% this month amid a recent rise in the price of Bitcoin. However, MicroStrategy stock tanked by 11% on Thursday after Kerrisdale Capital published a report, saying they are short on MicroStrategy Inc. and long on Bitcoin.
The investment management firm account explained that crypto trades often get carried away and that MicroStrategy would not be the exception.
The Bitcoin price implied in MicroStrategy is over $177,000, “an unjustifiable 2.6x the spot price of Bitcoin,” Kerrisdale said.
“The days when MicroStrategy shares represented a rare, unique way to gain access to bitcoin are long over,” the note said, adding that “bitcoin is now easily obtainable through brokerages, crypto exchanges and more recently low fee exchange-traded products (ETPs) and exchange-traded funds (ETFs).”
In addition, Bitcoin accounts for 97% of MicroStrategy’s valuation. Without it, the stock would be worth 60% of its current share price.
$Gap Inc (GPS.US)$ 's earnings for the fourth quarter were better than expected, leading to a 45.46% increase in the share price this month. This was driven by strong comparable sales for its Old Navy and Gap brands, as well as significant improvements in margins and cash flow.
Looking ahead to Q1, the company anticipates sales to remain steady compared to 1Q23 at $3.3B, almost in line with the consensus of $3.27B. Additionally, it expects gross margin to increase by 100 basis points from 37.2% in the same quarter last year.
$Williams-Sonoma (WSM.US)$ 's ability to maintain higher margins and control expenses earned the company an upgrade from Goldman Sachs and Morgan Stanley, both of which cite the company’s Q4 results for the improved outlook.
Morgan Stanley upgraded Williams-Sonoma to Equal-weight from Underweight, while Goldman Sachs moved to Neutral from Sell. Both raised their price targets as well with Morgan Stanley moving higher by 25% to $300 and Goldman by 70% to $263.
Here are the top stock gainers and losers of March 2024.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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EZ_money : that's only the beginning for MSTR....let it bleed a slow death
Befinn 6886 : Strangely why are there so many haters of MSTR in this forum? When a stock is performing well, shouldn’t you spend the effort to capitalise on the share rather than injecting negativity here?
EZ_money Befinn 6886 : so you think it's okay for Saylor to dilute his stock making the public retail investors buy it up, then use that money to buy more Bitcoin so he can get wealthier off others. you think that's okay? this is exactly how over 90% wealth goes to 1% population, did you know he helps funds democratic party. same party that is pushing to ban crypto.
Befinn 6886 EZ_money : There’s nothing we can do unless you’re as wealthy as him or any other whales who can manipulate the market based on influence. I believe there are other whales who are controlling the market with their strategies not made publicised. What we can do here is to focus on what we can control and channel our energy into our personal gains. MSTR is an excellent stock for capital appreciation with excellent steady growth and we should be grateful it exists for us to leverage on.
Nolapowa EZ_money : I have to agree with Turbo Wealth here. You invest to make money, right??? One key to investing is to keep your emotions out of it. To me, that also means keeping your personal beliefs, such as politics out of investing. While you may not agree, which I can understand to an extent, in the end your investments will suffer. I doubt many of us here have the wealth that can influence and steer the market. I didn't come here to argue personal beliefs or change anyone's views on the world. I came here to invest, make money, and learn something along the way to make me a better investor. If I wanted to indulge in others topics, well, there are plenty of other outlets for that.
IC sum cash : I'm in it for my household, I can care less for some political aszhole. If I can make money
off of it, I will. If it's not growing my portfolio, it's over with. Green is the goal!!