Splitting the stock is a proven strategy to lift a stock’s share price, at least temporarily. MicroStrategy (MSTR) gained 14.36% last Friday and 27.33% on the week. This should squeeze bears, who hold a 17.43% short float against MSTR stock.
MicroStrategy Executive Chairman Michael Saylor will participate in the Bitcoin 2024 conference. This begins on Thursday, July 25. MSTR stock is a likely winning stock today.
Coinbase (COIN) is up for the same reasons. The Bitcoin conference raises awareness of the industry. It would encourage people to create a cryptocurrency account on the Coinbase platform. Although COIN stock is a winning holding, valuations are unattractive. Still, the stock will follow Robinhood (HOOD), Marathon Digital (MARA), and Bit Digital (BTBT). When those stocks rise, COIN stock rises with it.
On the list of stock losers, Wipro (WIT) risks continuing its decline. Shares dropped by 9.37% last week after the firm posted weak quarterly results. The firm earned $0.07 a share in Q1 after revenue fell by 5.7% Y/Y to $2.64 billion. In Q2, Wipro expects its IT Services business revenue to be in the range of $2.6 billion to $2.652 billion.
Comerica (CMA) may continue its slump today after losing 10.49% last Friday. It posted a net interest income of $533 million, down from $621 million last year.
