MicroStrategy (MSTR) stock is extending its three-day decline, trading down 4.16% in pre-market, following a sharp drop in Bitcoin prices, which prompted an analyst to slash the price target by 60%.
- The analyst maintained a Buy rating on MSTR despite cutting the price target to $185.
- The decline reinforces the high correlation between MSTR and BTC, which fell 3.71% to $70,670.29.
- The stock closed the previous session at $129.09 (-3.13%).