MicroStrategy stock falls for second day after BTC sale, down 70% from 52-week high

Shares of MicroStrategy (MSTR), the largest publicly traded holder of Bitcoin, have fallen for two consecutive days following the disclosure of a recent BTC sale. The stock closed at $136.08 on June 2, down more than 70% from its 52-week high of $457.22. Last week, MicroStrategy announced it had sold 32 BTC at an average price of $77,135, securing approximately $2.5 million. However, this sale represents a small fraction of the company's total Bitcoin holdings, which are valued at over $56 billion. During the same period, Bitcoin has also shown weakness, trading around $67,288, a decline of more than 46% from its all-time high of $126,080. Meanwhile, investment bank TD Cowen has maintained its $400 price target for MicroStrategy, suggesting a potential upside of about 194% from its current price.