The Defiance Daily Target 2X Long MSTR ETF (MSTX) rallied 5.02% in after-hours trading on Monday, following positive news from its underlying holding, MicroStrategy (MSTR).
MicroStrategy, the largest publicly-traded corporate holder of Bitcoin, announced that it had achieved a Bitcoin Yield of 47.4% for the fourth quarter of 2024 and an impressive 73.7% for the full year. Additionally, the company disclosed that it had increased its Bitcoin holdings, further solidifying its commitment to the cryptocurrency.
As a leveraged ETF that aims to provide twice the daily returns of MicroStrategy's stock, MSTX's after-hours surge reflects investors' optimism about MicroStrategy's strong Bitcoin performance and its potential impact on the company's financial results and stock valuation.
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