Why MicroStrategy Incorporated (MSTR) Skyrocketed on Friday

We recently compiled a list of the Why These 10 Stocks Were Skyrocketing on Friday. In this article, we are going to take a look at where MicroStrategy Incorporated (NASDAQ:MSTR) stands against the other stocks that were skyrocketing on Friday.

Wall Street saw a strong trading session on Friday, with all major indices finishing firmly in the green ahead of President-elect Donald Trump’s return to office.

The Dow edged higher by 0.78 percent, while the S&P rallied 1 percent. Nasdaq, for its part, jumped 1.51 percent.

Ten companies—predominantly Bitcoin miners—were among the day’s standout performers, posting significant gains amid growing optimism in the broader cryptocurrency market, thanks to Trump’s commitment to supporting the sector.

To come up with Friday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Is MicroStrategy Incorporated (MSTR) The Stock That Will Go to the Moon According to Reddit?

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MicroStrategy Incorporated (NASDAQ:MSTR)

Shares of MicroStrategy Incorporated (NASDAQ:MSTR) ended Friday’s trading up by 8.04 percent to close at $396.5 apiece as investor sentiment was buoyed by a broader crypto market optimism under the incoming Trump administration.

MicroStrategy Incorporated (NASDAQ:MSTR), a company heavyweight on Bitcoin, traded higher in line with its counterparts, amid earlier signals from President-elect Donald Trump that he would soon release an executive order making cryptocurrencies a national priority.

Additionally, reports said Trump was looking to create 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 (NASDAQ:MSTR) recently added 2,530 Bitcoins for $243 million, bringing its total holdings to 450,000 Bitcoins.

Overall MSTR ranks 8th on our list of the top-performing stocks from Friday’s session. While we acknowledge the potential of MSTR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MSTR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.