A brief history of MicroStrategy stock's climb to reclaim 24-year high

seekingalpha
2024-10-29

Marco Bello

MicroStrategy (NASDAQ:MSTR) stock jumped 5.2% in Monday midday trading, putting it on track to its highest level since March 16, 2000. The stock imploded later that month after the U.S. Securities and Exchange Commission issued new guidelines for recognizing revenue.

Here's a brief overview of the stock's history:

June 11, 1998: MicroStrategy (NASDAQ:MSTR), a business software firm co-founded by Michael Saylor and Sanjeev Bansal, goes public and opened at a split-adjusted price of $8.13 per share.

March 10, 2000: MSTR surged to an all-time high closing price of $313.

March 20, 2000: The stock dropped 62% to $86.75 from the previous close of $226.75 after the company said it would post a 1999 loss instead of a profit and would revise its 1998 results down, after the U.S. Securities and Exchange Commission issued new guidelines for how revenue should be reported.

Dec. 14, 2000: The SEC settled civil actions against MicroStrategy's (NASDAQ:MSTR) three top officers — Saylor, Bansal, and Mark Lynch, its former chief financial officer. The defendants neither admitted nor denied the SEC's allegations. Saylor agreed to pay $8.28M, Bansal, $1.63M, and Lynch $138K.

Dec. 29, 2000: MSTR ended the year at $9.50 per share.

Dec. 31, 2012: MSTR ended the year at $9.34, down 0.2% for the year,

Aug. 11, 2020: MSTR bought 21,454 bitcoins (BTC-USD) for $250M, reflecting "our belief that bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash," Saylor said.

Dec. 21, 2020: MSTR's bitcoin (BTD-USD) stash rose to 70,470, which it acquired for $1.125B. The stock ended the year at $39.00, up 173% during 2020.

Dec. 22, 2022: The company sold ~704 bitcoin for ~11.8M, to carry back capital losses from the transaction against previous gains.

Dec. 27, 2022: Total bitcoin holdings were ~132.5K.

Dec. 31, 2022: Stock closed at $14.16, down 74% for the year.

Sept. 19, 2024: MicroStrategy (NASDAQ:MSTR) held ~252,220 bitcoins acquired at a total purchase price of $9.90B.

Oct. 28, 2024: Stock rises 5.2% to $246.59.

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