What changed
$MSTR — BUY 📊 | 6 MONTHS THESIS
🎯 Q2 2026 | EPS $10.70 vs $10.70 ➖
💡 Consensus sees a large EPS miss and dilution, but ignores that the EPS loss is mostly accounting impairment, and the dilution is being used to acquire assets (Bitcoin) that can generate substantial returns. The variant view is that Bitcoin will appreciate, turning the recent dilution into a net positive for per-share value.
📉 Reward/risk: 2.14:1
🏢 Business Quality: 5/10 - Declining legacy software business but unique strategy as a Bitcoin treasury; highly volatile and dependent on Bitcoin price.
📊 Valuation: rich on current NAV (likely 2-3x premium to Bitcoin holdings), but could become fair to cheap if Bitcoin rises to $150k and/or premium holds;...
🔮 Catalyst: Bitcoin price breaking above $120,000 or Q2 2026 earnings showing strong BTC per share growth
📊 Our read: BUY. Full analysis →
https://stockduty.xyz/s/MSTR0621