MicroStrategy’s Rough Life as a Bitcoin Tracker
- Date: 09-Jun-2021
- Source: The Wall Street Journal
- Sector:Financial Markets
- Country:Middle East
MicroStrategy’s Rough Life as a Bitcoin Tracker
One has to hand it to MicroStrategy in that they have hit on an effective, if expensive, way to get back on Wall Street's radar.
The 32-year-old company sells business intelligence, or BI, software and has been public since 1998. But annual revenue peaked at just under $580 million in 2014 and has been in a slow decline since. Investors had largely lost interest. At this time last year, only two analysts were covering MicroStrategy's stock, which was fetching a multiple of about 2.6 times forward sales, nearly one-third the average multiple for the S&P 500 Software & Services Group at the time, according to FactSet.
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