MicroStrategy stock set for mega squeeze despite $3 billion short interest
In an interesting turn of events, the short interest in MicroStrategy (NASDAQ: MSTR) has reached a massive figure of $3 billion, or 20% of its float, suggesting that the investors doing the short selling are exceptionally bearish on its future price, but also indicating the possibility of a mega short squeeze. Indeed, despite a recent rally for Bitcoin (BTC), to which MicroStrategy grants indirect exposure, some investors are betting a lot of money against MSTR, with the short bets accounting for about 20% of the company’s total available shares, as observed by Andrew Kang in an X post on March 4. MSTR short interest. Source: Andrew Kang According to the cryptocurrency entrepreneur, many of these bettors are “angry TradFi boomers trying to capture the premium to [net asset value (NAV)],” but the premium went from 50% before the spot Bitcoin exchange-traded fund (ETF) approval to 13% after it, only to recover to the highs of the current 70%. Picked for you This early PE...