Canaccord cuts MicroStrategy price target to $1,590 from $1,810

04/30 08:41

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Canaccord, a securities firm, lowered MicroStrategy's target price from $1,810 to $1,590 while maintaining a buy rating. The stock fell 2.5% to $1,261 in after-hours trading. The report stated that the company purchased more Bitcoin in the first quarter and now owns a total of 214,400 Bitcoin, worth approximately $13.6 billion.

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