MicroStrategy Shares Surge After Bitcoin Rises and Corsair Gaming Shares Rise as WallStreetBets Finds a New Stock ๐Ÿ“ˆ

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MicroStrategy Shares Surge After Bitcoin Rises and Corsair Gaming Shares Rise as WallStreetBets Finds a New Stock

MicroStrategy

On Monday, shares of MicroStrategy surged, closing up 15.89%.

Shares of the business intelligence company rose after the price of Bitcoin spiked, sending the cryptocurrency above $40,000 on Monday.

MicroStrategy is a software firm, but its stock fluctuates with the price of Bitcoin since it holds nearly $4 billion in the cryptocurrency. Bitcoin jumped roughly 10% after Tesla CEO Elon Musk tweeted Tesla would resume allowing bitcoin transactions “when there’s confirmation of reasonable (~50%) clean energy usage by miners.”

The rise in Bitcoin’s price boosted MicroStrategy’s stock price, as investors purchased more of the software company’s stock.

Shares of MicroStrategy have risen above 50% this year.

Corsair Gaming

On Monday, shares of Corsair Gaming leaped, closing up 11.25%.

Retail traders bolstered shares of the American video-game hardware company on the infamous subreddit, Wall Street Bets. On Monday, Corsair Gaming was mentioned on Wall Street Bets over 1,700 times, joining the list of WSBโ€™s favorite โ€œmeme stocks.โ€

Corsair Gaming is most known for its gaming hardware, including anything from green screens for streamers, to keyboards and gaming PCs. The company reported net sales of $529.4 million in its last quarter, up 71.6% year over year.

Shares of Corsair Gaming have risen over 10% in the past three months.

I am not a financial advisor and my comments should never be taken as financial advice.ย Investments come with risk, so always do your research and analysis beforehand.

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