Benchmarkanalyst Mark Palmer reiteratedMicroStrategy Inc(NASDAQ:MSTR) with a Buy and a $1875 price target.
Since adopting its bitcoin acquisition strategy in August 2020, MicroStrategy has seen its share price increase by more than 10x, a performance that during that span significantly outpaced the returns of bitcoin, the major stock indices, commodities such as gold, and big tech stocks, Palmer said.
At the same time, MSTR, since it started to hold bitcoin on its balance sheet, recorded $2.269 billion in cumulative impairment losses due to a Financial Accounting Standards Board (FASB) rule (ASC 350) that has required the company to account for its...
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