11 US state pension funds face 60% loss on MicroStrategy stock

Eleven U.S. state pension funds that invested in MicroStrategy (MSTR) have suffered significant losses as the company's stock price has declined, DL News reported. According to the report, these funds, including the New York State Common Retirement Fund and the Florida State Board of Administration, collectively hold nearly 1.8 million shares of MicroStrategy. The current value of their holdings is approximately $240 million, a sharp drop from their initial investment of about $570 million. The recent stock decline has resulted in 10 of the 11 funds incurring a 60% loss on their MSTR purchases. MicroStrategy's stock has fallen 67% over the past six months.