Microstrategy Shares Look Overvalued By 26%: ‘It Is Time To Take Profit’ Says Analyst Who Saw Bitcoin Rally
While MicroStrategy Inc. (NASDAQ: MSTR) attracted the attention of analysts who raised price targets for the stock, one stated the stock was overvalued. What Happened: MicroStrategy reported a surge of 358.8% on a year-to-date basis and investors’ optimism is high for the upcoming year amid rising Bitcoin (CRYPTO: BTC) prices that are the highest revenue-generating source for the tech company. But 10x Research’s Markus Thielen, who in February 2023 predicted a Bitcoin rally, saw MicroStrategy shares as overvalued by 26%. The analyst said this was “based on the firm’s regression model, studying…