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A ‘Mister’ Update

They say that in life, timing is everything.

Yesterday, I got the sick feeling in the pit of my stomach that my timing on our new “Mister,” aka MicroStrategy Inc. (NASDAQ: MSTR), was horribly wrong.

The shares began falling sharply roughly an hour or so after our buy recommendation was sent. I checked the newswires to see why, and then, when I found out, that pit in my stomach instantly calmed.

That’s because activist short-selling firm Citron had established a short position in MSTR, saying it was too tied up with the fortunes of Bitcoin.

Uh, duh! That’s why the shares have run up so much of late, and that’s one reason for our new position.

Still, there are some on Wall Street that follow Citron, although I don’t know why, as they are usually off the mark on issues such as these.

And judging by this morning’s reaction to the Citron news, investors have the same opinion as I do.

As of this writing, MSTR shares are up nearly 10%, almost fully recapturing the over-reactionary selling prompted by the shorts. And though we are still down slightly from yesterday’s official buy price, we are in great shape, especially considering the reason for the selloff was prompted by the likes of Citron.

So, fear not, fellow Crypto & Commodities Trader peeps, this Mister continues to stand tall!

In the name of the best within us,

Jim Woods
Editor
Crypto & Commodities Trader

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