On July 23, Strategy fell 5.2% in regular trading, trading at $94.3/share, with turnover of $394 million. The decline came as cautious institutional sentiment weighed on the stock ahead of the company's upcoming earnings report scheduled for July 30.

Over the past six months, institutional views have tilted bearish, with a higher proportion of sell-side analysts expressing negative outlooks. Core concerns center on profit volatility and the potential impact of one-time items on EPS. The company previously disclosed Q2 unrealized losses of $8.31 billion, while its mNAV has fallen below 1 — meaning the market now values the company below its bitcoin holdings — fundamentally undermining its equity-funded bitcoin accumulation model. Multiple banks have recently cut price targets, with Citi lowering to $136 and Canaccord Genuity to $130, compounding selling pressure in the pre-earnings window.

(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.)