Looks like around 1020 EST Citron outlined why it is short MSTR: Citron Research discloses short position in bitcoin buyer MicroStrategy 10:49:49 AM ET, 11/21/2024 - Reuters (Adds comment in paragraph 3, background from paragraph 4) Nov 21 (Reuters) - Citron Research has taken a short position in MicroStrategy, the company said in a post on social media platform X on Thursday. Shares of the largest corporate holder of bitcoin were last down more than 8%. They opened sharply higher on a rally in bitcoin prices, which were nearing $100,000 after crypto-friendly Donald Trump's victory in the U.S. presidential election. "Now, with Bitcoin investing easier than ever (ETFs, $COIN, $HOOD), $MSTR's volume has completely detached from BTC fundamentals," Citron wrote while stating it was bullish on bitcoin. "Much respect to (Michael Saylor), but even he must know (MicroStrategy) is overheated." MicroStrategy did not immediately respond to a Reuters request for comment. Under Executive Chairman Saylor, the company has raised capital all through the year to acquire more bitcoin, with a $2.6 billion debt offering on Wednesday the latest. Its shares have surged more than 600% so far this year. My guess he will get streamrolled like all previous shorts if Bitcoin keeps going higher.
https://www.elitetrader.com/et/threads/gba-presents-the-public-games.380376/page-573#post-6058691 You crushed it John, at $400 you’re sticking kicking its ass!
Thanks Mr Ted! m2m was brutal for my mstr call options today, over 6 figure m2m additional profits early trading session to over 6 figure loss m2m late trading session , but no pnl changes to the account occurred, all m2m calcs mstr is not good for day-trading or even less than a 1-week trade, imho longer time trades, buy the dips, call options I put a small trade for Jan2025 calls 600 https://www.elitetrader.com/et/thre...etric-risk-reward.379915/page-33#post-6058981
So it took a research note by citron to say why they were short and like magic the stock falls, meanwhile it was complete common sense well before the report was released why mstr is truly overvalued and completely a risky trade to behind with.
And forget mstr look at the 2x Mstu and mstx. Those stocks fell nearly 100 dollars from their morning open!!! Mstr will be even more risky and more volatile going into the end of the year. Its now become a very very well known trade within the social media communities, believe it's the second most traded company after nvda on robinhood. Not one single bull saw this one coming, every forum and chat group said that mstr would just keep on rallying, today they got quite a surprise and more so on the reason that bitcoin was actually advancing to100k all while mstr was falling hard.....so just imagine if bitcoin was off 4 or 5 % on top of this news, could have possibly send mstr down 150 dollars without a problem. Again no one saw this fall coming and damn is funny to see all the bulls trying to calm the masses as they believe this is just a 1 off event. It's not!
Thank you for sharing your MSTR knowledge, experience and journey on Elite with us all! I love seeing good people make a big gain like you have. Also thanks for being so generous with your wisdom!
Thank you very much for your very kind words, Mr Ted!! We're all sharing our knowledge as best we can and my trading is FA based so I have no proprietary edge We want to see each other win, it is more fun!