MicroStrategy's stock has taken a significant hit, dropping almost 40% from its peak of just over $540 per share. As of November 27, 2024, the company has seen a year-to-date increase of 416%. However, recent declines have impacted its net asset value (NAV) premium, which now stands at 2.09.
On November 20, MicroStrategy recorded its highest daily retail purchase ever. Retail investors bought nearly $100 million in shares, according to The Kobeissi Letter.
With the stock price falling, the NAV premium is now around 2.09. This is one of the lowest levels since September. The premium is calculated by comparing MicroStrategy's market cap of $75 billion to its 386,700 bitcoin holdings, which are valued at $36 billion.
Trading activity in MicroStrategy has been remarkable. Last week, the company saw $136 billion in trading volume. This amount far exceeds the trading volume during the GameStop (GME) hype. Eric Balchunas, a Senior Analyst at Bloomberg, noted, "Even the most intense week of GameStop Mania couldn't come close to the week MicroStrategy just had with $136 billion in volume."
James Van Straten is a senior analyst at CoinDesk. He specializes in Bitcoin and the macroeconomic landscape. Before this role, he worked as a research analyst at a Swiss hedge fund, where he learned about on-chain analytics. James focuses on daily monitoring of ETFs and spot and futures volumes to see how Bitcoin interacts in the financial world. He holds investments in Bitcoin, MicroStrategy (MSTR), Semler Scientific (SMLR), IREN (IREN), MARA Holdings (MARA), Cipher Mining (CIFR), Bitfarms (BITF), Riot Platforms (RIOT), and CleanSpark (CLSK).