On July 6, Strategy declined 6.08% in regular trading, trading at $97.07/share with turnover of $4.21 billion. The stock extended pre-market losses as multiple negative catalysts converged.

On the news front, Strategy reported a second-quarter unrealized loss of $8.31 billion on its digital asset holdings, while simultaneously confirming the sale of 3,588 BTC last week valued at over $220 million. The company's Bitcoin holdings now stand at 843,775 BTC. Bitcoin itself fell below $62,000, further pressuring the stock.

The sell-off comes amid broader concerns about Strategy's strategic pivot. The company announced in late June it may sell up to $1.25 billion in Bitcoin to bolster cash reserves, breaking its long-standing commitment to never sell. Multiple investment banks have recently cut price targets, with Citi lowering to $136 and Canaccord Genuity to $130. Morgan Stanley has warned that Strategy's shift from net buyer to potential seller adds uncertainty to the crypto market's supply-demand dynamics. The company's cash reserves of approximately $1.4 billion fall short of its estimated $1.7 billion in annual dividend and interest obligations.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)