Strategy (NASDAQ: MSTR) stock price is down by 3.88% today, September 8, to trade at $137 at the time of writing. The drop comes despite Strategy announcing that it bought back $176 million worth of STRC stock in an attempt to push the preferred stock back to its $100 par value.
MSTR stock drop also suggests that buyers did not react to the stock’s upgrade by Canaccord, with the firm citing Bitcoin’s bullish outlook.
Canaccord Raises MSTR Stock Target Again
Canaccord, a wealth manager that oversees nearly $115 billion in client assets, has once again reiterated a buy rating for Strategy shares while also raising the stock’s target from $175 to $179.
MSTR stock was trading at $137 at press time, suggesting that…
