Strategy Inc (STRC)

Strategy's stock rose intraday by 4.4% to $96.60 after data showed large crypto holders accumulated around 43,000 BTC in the past 60 days and a metric for spot demand returned close to positive. CEO Phong Le indicated that Strategy intends to buy Bitcoin again this year, reassuring investors after a seven-week buying pause. The company built USD cash reserves of $4.8bn through share sales, providing strategic flexibility, and 17 of 19 brokers still rate the stock as buy or better. » More on de.investing.com

Strategy reported a GAAP loss of $24.45 per share in Q2 and recorded an unrealized $8.32 billion write-down need on digital assets under new fair-value rules. The company sold 1,690 Bitcoin well below average cost and used the proceeds to repurchase preferred shares; roughly 6.59 million common shares were sold through an ATM program, fueling dilution fears. Analyst Mizuho cut its price target from $213 to $165, a director sold shares, and additional selling pressure emerged on the ex-dividend date for the STRC preferreds; the stock fell intraday to $92.22, near its 52-week low. » More on de.investing.com

Michael Saylor says he used ChatGPT to design a Bitcoin-based preferred stock that enabled Strategy to raise about $15 billion through an IPO and related offerings. He argues entrepreneurs should use AI to ask better questions and not try to 'outwork the robots.' Strategy remains highly exposed to Bitcoin, a risk highlighted by recent declines in Bitcoin and the company's shares. » More on finance.yahoo.com