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Strategy Incorporated (MSTR): A Bear Case Theory

We came across a bearish thesis on Strategy Incorporated on r/wallstreetbets by u/Intelligent-Grape-12. In this article, we will summarize the bears’ thesis on MSTR. Strategy Incorporated's share was trading at $172.99 as of January 13th. MSTR’s trailing and forward P/E were 6.66 and 2.40, respectively according to Yahoo Finance.

MicroStrategy Inc. (MSTR) currently operates less as a traditional software company and more as a highly leveraged Bitcoin holding vehicle with a legacy software business attached. Its stock behavior mirrors Bitcoin volatility, surging during crypto bull...