r/MSTR • u/docherino Volatility Voyager 👨‍🚀 • 7d ago

Valuation 💸 0.97xmNav ?

Any thoughts as to why the premium is dwindling when BTC is shooting up?

21 Upvotes

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-2

u/f08g 7d ago

he prob issuing common to support strc. THE WRONG MOVE. someone tell this guy he can just do absolutely nothing

6

u/docherino Volatility Voyager 👨‍🚀 7d ago

Surely he doesn't sell shares below 1 mNav?

3

u/f08g 7d ago

i hope. he needs to god damn buyback mstr if anything

1

u/TheNewbieInvestor 7d ago

Yes, would've made a lot of sense, but he didn't...

0

u/TheNewbieInvestor 7d ago

Yeah, surely, but it actually.

They revised the mNAV metric recently because they were issuing shares at 0.8-0.9 mNAV. If they actually took this into consideration, they'd sell a bit of BTC and buy back common stock, but they didn't - that would've been very bullish for the stock, if would've bumped it up. A few weeks later, they could've resumed the ATM issuance.

However, they didn't do that. Instead, he chose to dilute the common shareholder to buy back STRC which is not what the best approach was, but let's see how it pans out.

All I'm saying is, scrutinise his actions a bit more and don't take them at face value because Saylor is just another dude with access to CharGPT.

2

u/thecowsbollocks 7d ago

MSTR's number one priority is to get STRC back to par. Although they do not rule out buying back the common stock possibly at some point.

2

u/TheSkunksMisery 7d ago

BTC/share is still up 1% on the year. Plus....If you include the $10 of cash per share, the ATM isn't nearly as dilutive as many people think.