MicroStrategy stock traded at $307 by mid-morning Wednesday, more than 10% higher than the previous close. This move follows the announcement by MicroStrategy CEO Michael Saylor that he would be retiring. MicroStrategy did not report earnings Tuesday.
MicroStrategy stock traded up over 10% on Wednesday morning, after the announcement last night that Michael Saylor would be leaving as CEO.
The shares of the software company, which is perhaps better known for its bold bet on Bitcoin, were trading at $307.65 as of this writing after closing at $284.72 Tuesday before earnings.
The firm shared its second quarter earnings on Tuesday, despite falling revenues. Saylor’s resignation is the main event.
After the earnings call, Saylor announced that he had doubled his commitment to Bitcoin, and , the firm’s new guard, also made the announcement.
MicroStrategy has more than 129.699 BTC. recently bought an additional 480 Bitcoin worth approximately $10 million at an average cost of $20,817.
At Wednesday’s writing, bitcoin trading was fairly stable with prices at $23,346, CoinGecko reporting – and an increase of 2% over the last 24 hours.