MicroStrategy Inc. /zigman2/quotes/202561856/composite MSTR +4.56% engages in the provision of enterprise analytics and mobility software. The firm designs, develops, markets, and sells software platform through licensing arrangements and cloud-based subscriptions and related services. Its product packages include Hyper.Now, Consumer User Bundle, and Power User Bundle.
But MSTR has also become the front-line soldier in the crypto revolution with its enormous cash investments into Bitcoin holdings.
MicroStrategy Inc. /zigman2/quotes/202561856/composite MSTR +4.56% recently announced financial results for the three-month period ended March 31, 2022 (the first quarter of its 2022 fiscal year).
"We continued to see strong results across both of our corporate strategies in the first quarter of 2022. We had an increase in Cloud revenue and billings, with growing adoption of the MicroStrategy platform by new and existing customers," said Michael J. Saylor, CEO, MicroStrategy.
"We also furthered our position as the leading public company investor in bitcoin through the issuance of our first bitcoin-backed term loan. We have demonstrated that our bitcoin can be productively used as collateral in capital raising transactions, which allows us to further execute against our business strategy. Today, MicroStrategy is the world's largest publicly traded corporate owner of bitcoin with over 129,200 bitcoins."
MSTR has registered increased average transaction volume recently, with the past month seeing 12% beyond what we have been seeing over the larger time frame. This should not be overlooked with the stock trading on a float that is very limited at just 9.3M shares. It's something the veterans know to key on: a mechanically driven price squeeze can result from this type of mix of small float and ramping attention from traders.
MicroStrategy Inc. /zigman2/quotes/202561856/composite MSTR +4.56% has a significant war chest ($64.4M) of cash on the books, which must be weighed relative to about $312M in total current liabilities. One should also note that debt has been growing over recent quarters. MSTR is pulling in trailing 12-month revenues of $510.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 2.4%.
Other key names in the crypto stock space include Marathon Digital Holdings Inc. /zigman2/quotes/205886758/composite MARA +1.48% , Riot Blockchain Inc. /zigman2/quotes/209538617/composite RIOT +5.85% , Coinbase Global Inc. /zigman2/quotes/225893452/composite COIN +0.65% , Block Inc. /zigman2/quotes/205989440/composite SQ -3.79% , and ProShares Bitcoin Strategy ETF (nysearca:BITO).
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The post Emerging Opportunities in the Crypto Stock Space (HIVE, XCPL, MARA, RIOT, MSTR, COIN, SQ, BITO) appeared first on Wall Street PR .
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