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We recently compiled a list of the These 10 Firms Dominated Last Week's Rally. In this article, we are going to take a look at where MicroStrategy Incorporated (NASDAQ:MSTR) stands against the other stocks that dominated last week's rally.
Last week saw a strong trading finish with Wall Street’s main indices all settling in the green territory ahead of President-elect Donald Trump’s return to the White House.
Week-on-week, the Dow eked out a 3.81-percent gain, the S&P rallied 3.79 percent, while the Nasdaq increased by 3.84 percent.
Last week, 10 companies from diverse sectors outpaced their peers. Let’s take a closer look at which publicly-listed firms led the charge and what fueled their impressive performance.
For this week’s list of the 10 biggest advancers, we focused exclusively on companies with a market capitalization of at least $2 billion and a minimum trading volume of $5 million.
A software engineer wearing a headset, collaborating with a remote team on a project.
MicroStrategy Incorporated (NASDAQ:MSTR)
MicroStrategy Incorporated (NASDAQ:MSTR) saw its shares surge by 27.97 percent week-on-week to end at $396.60 apiece, as investor sentiment was buoyed by a broader crypto market optimism under the incoming Trump administration.
The company traded higher alongside its Bitcoin mining peers amid earlier signals from President-elect Donald Trump that he would soon release an executive order making cryptocurrencies a national priority.
Additionally, Trump is setting his sights on creating a crypto advisory council to give the industry a voice within his administration. A bitcoin stockpile is part of discussions about a possible executive order that would cover several areas of crypto policy.
In other news, MicroStrategy Incorporated (NASDAQ:MSTR) recently added 2,530 Bitcoins for $243 million, bringing its total holdings to 450,000 Bitcoins.
Overall MSTR ranks 4th on our list of the firms that dominated last week's rally. While we acknowledge the potential of MSTR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MSTR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.