MicroStrategy (MSTR) stock opened higher on Aug. 3 as investors digested the news of its CEO Michael Saylor’s exit after a depressive quarterly earnings report.
Microstrategy stock up 142% since May lows
On the daily chart, MSTR’s price surged by nearly 14.5% to $324.55 per share, the highest level since May 6.
The stock’s intraday gains came as a part of a broader recovery that started on May 12 at $134. Since then, MSTR has grown by 142% versus Nasdaq’s 26.81% gains in the same period.
MSTR daily price chart. Source: TradingViewBad Q2, Saylor’s resignation
The Aug. 3 MSTR rally came a day after MicroStrategy reported a billion dollar loss in its second quarter (Q2) earnings call. Interestingly, the company’s major Bitcoin exposure was a large reason for its