We recently compiled a list of the These 10 Firms Dominated Last Week’s Rally. In this article, we are going to take a look at where MicroStrategy Incorporated (NASDAQ:MSTR) stands against the other stocks that dominated last week’s rally.
Last week saw a strong trading finish with Wall Street’s main indices all settling in the green territory ahead of President-elect Donald Trump’s return to the White House.
Week-on-week, the Dow eked out a 3.81-percent gain, the S&P rallied 3.79 percent, while the Nasdaq increased by 3.84 percent.
Last week, 10 companies from diverse sectors outpaced their peers. Let’s take a closer look at which publicly-listed firms led the charge and what fueled their impressive performance.
For this week’s list of the 10 biggest advancers, we focused exclusively on companies with a market capitalization of at least $2 billion and a minimum trading volume of $5 million.
A software engineer wearing a headset, collaborating with a remote team on a project.
MicroStrategy Incorporated (NASDAQ:MSTR)
MicroStrategy Incorporated saw its shares surge by 27.97 percent week-on-week to end at $396.60 apiece, as investor sentiment was buoyed by a broader crypto market optimism under the incoming Trump administration.
The company traded higher alongside its Bitcoin mining peers amid earlier signals from President-elect Donald Trump that he would soon release an executive order making cryptocurrencies a national priority.
Additionally, Trump is setting his sights on creating a crypto advisory council to give the industry a voice within his administration. A bitcoin stockpile is part of discussions about a possible executive order that would cover several areas of crypto policy.
In other news, MicroStrategy Incorporated recently added 2,530 Bitcoins for $243 million, bringing its total holdings to 450,000 Bitcoins.
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This article is originally published at Insider Monkey.
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