MicroStrategy Shares Plunge After Bitcoin Falls and DoorDash Shares Jump After New Acquisition
On Wednesday, shares of business intelligence company MicroStrategy plunged, closing down 23.45%.
Shares of the company plunged after Bitcoin fell more than 8% from its all-time high. About one-third of MicroStrategy’s market value comes from their $3 billion Bitcoin holdings, so the company tends to move with similar volatility as the cryptocurrency.
Last December, MicroStrategy invested over $1 billion in Bitcoin, the company has already almost tripled its investment.
Shares of MicroStrategy have skyrocketed over 400% in the past three months.
On Wednesday, shares of food delivery company DoorDash closed up 14.6%. DoorDash IPO’s in December last year at $102 per share.
Shares of the company jumped after it announced the acquisition of robotics startup, Chowbotics. Founded in 2014, Chowbotics created a fresh food robot named Sally — the robot can create custom salads, cereals, parfaits and more. Sally is already used in universities, hospitals, and grocery stores.
DoorDash says Chowbotics will help them expand their offerings and provide made-to-order fresh meals.
Shares of DoorDash are up more than 8% in the past month.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.