"Surpassed even Tesla and Nvidia"...Strategy (MSTR) Ranks 16th in US Stock Market Trading Volume

▲ Strategy (MSTR), Bitcoin (BTC), Dollar (USD)/AI-generated image

Strategy (MSTR) stock surged over 16%, surpassing Netflix and Visa to become the 16th most traded stock in the U.S. stock market.

According to cryptocurrency media outlet Coingape on September 19 (local time), Strategy closed at $153 on September 18, a 16% jump. Amid a broader market rebound that day, Bitcoin (BTC) surged to $81,000 before consolidating around the $80,000 mark, and Ethereum (ETH) also broke past $2,600, its highest in eight months. Virtual asset-related stocks, including Coinbase (COIN) and Circle (CRCL), also rallied, rising by 11% and 7% respectively.

Driven by explosive buying, trading volume also reached astronomical levels. According to MarketBeat data, Strategy's daily trading volume on September 18 was $8.36 billion, ranking it 16th among U.S. listed stocks. Over 54 million shares changed hands in a single day, with buy orders accounting for an overwhelming proportion, marking the largest buying volume since February. The 30-day average trading volume as a percentage of market capitalization was also 5.4%, significantly outpacing major tech stocks such as Tesla (0.9%), Meta (0.6%), and Nvidia (0.5%).

Following the virtual asset rally, Strategy's unrealized profit from Bitcoin swelled to $4.73 billion. The company temporarily halted additional Bitcoin purchases for two weeks to focus on preferred stock repurchases, but the valuation gains on its 84,505 BTC holdings surged. Strategy recently repurchased $139 million worth of preferred stock (STRC), completing a total of $950 million in share repurchases since July, with the preferred stock price nearing its par value of $100 with a difference of 1.49%.

In terms of technical indicators, expectations for further gains and caution against short-term profit-taking are in a tight standoff. With the stock price settling above the 200-day Exponential Moving Average (EMA) support level of $152, the Moving Average Convergence Divergence (MACD) line has crossed above the signal line, and the histogram has turned green, opening a path for an upward trajectory to the Fibonacci 161.8% retracement level of $183. However, if short-term profit-taking in Bitcoin emerges after the sharp rise, there is also a possibility of a correction to the 20-day Exponential Moving Average level of $129.

[Article Key Summary]

-Strategy's stock price soared 16% to $153, with a daily trading volume of $8.36 billion, ranking 16th in the U.S. stock market.

-Driven by the Bitcoin rebound, the unrealized valuation profit of 84,505 BTC surged to $4.73 billion.

-With the stock settling above the 200-day EMA and improved MACD, it has entered a test to break the $183 resistance level.

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