MicroStrategy [NASDAQ: MSTR] Stock Rallies on Friday. Here’s Why

Shares of MicroStrategy Incorporated [NASDAQ: MSTR] surged 1.65% as the firm has gained +10.22 during the trading session of Friday. The strong performance of the firm highlighted the positive sentiments of the investors after the firm disclosed that Capital International Investors had purchased a large equity stake.

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In a filing with the SEC, MicroStrategy disclosed that Capital International, with nearly $400 billion in equity investments, now holds 953,242 shares or 12.2% of MicroStrategy’s Class A shares outstanding. These holdings would be enough to make Capital International the second-largest shareholder.

Furthermore, according to Capital International’s latest 13F filing, it didn’t hold any MicroStrategy shares as of March 31. MicroStrategy has bought more than $2.7 billion worth of bitcoin. MicroStrategy Incorporated [NASDAQ: MSTR] shares surged 1.65% as the firm has gained +10.22 during the trading session of Friday.

MicroStrategy Incorporated [NASDAQ: MSTR] share price went from a low point around $114.21 to briefly over $1315.00 in the past 52 weeks, though shares have since pulled back to $628.66. MSTR’s market cap has remained high, reaching $6.27 billion at the time of writing.