The Virginia State Retirement Fund bolstered its position in MicroStrategy by acquiring 7,180 additional shares, signaling strong institutional conviction. Despite a broader market downturn and a price target cut from Mizuho Securities, the stock rose 3.39% to close at $129.45.
- The fund's total stake now reaches 31,880 shares, demonstrating significant institutional backing despite recent geopolitical volatility.
- Analyst Dan Dolev of Mizuho Securities recently adjusted his outlook, lowering the price target from $403 to $320.
- The rally occurred as MicroStrategy defied a slump in the Nasdaq and digital assets triggered by escalating Middle East tensions.