10 Stocks Bolstered by Broader Market Cheer

6. Strategy Inc. (NASDAQ:MSTR)

Strategy Inc., formerly MicroStrategy, jumped by 24.76 percent on Wednesday to finish at $296.86 each, in line with higher Bitcoin prices, thanks to President Donald Trump’s decision to delay higher tariffs on US imports.

As of this writing, the price of Bitcoin was already up by 9.29 percent at $83,361.82.

Just recently, MSTR suffered an investor selloff amid its recent pause in acquiring Bitcoins in the last week of March, opposing its usual aggressive stance in purchasing the cryptocurrency.

However, the week prior saw MSTR purchase 22,048 Bitcoins for $1.92 billion, marking their largest acquisition to date.

Last Tuesday, investment firm TD Cowen reaffirmed its Buy rating and a price target of $550 for MSTR over its $722.5-million fixed income offer that could bolster its acquisition of more Bitcoins.

According to the analyst, the issuance of non-convertible preferred shares was a strategic move that would allow the company to advance its Bitcoin acquisition strategy.