Angelica Ballesteros
2 min read
In This Article:
We recently published a list of 10 Firms That Led Bloodbath Today. In this article, we are going to take a look at where Strategy Incorporated (NASDAQ:MSTR) stands against other Friday’s worst-performing stocks.
Shares of Strategy Inc. dropped for a third straight day on Friday, shedding 7.5 percent on Friday to close at $369.51 apiece, after getting hit with a class action lawsuit for allegedly disclosing false information to the public.
In a regulatory filing, Strategy Incorporated (NASDAQ:MSTR) said it received a class action lawsuit against its executives on May 16, alleging that the company made false statements about its anticipated profitability, the various risks associated with Bitcoin volatility, and the magnitude of the losses.
A software engineer wearing a headset, collaborating with a remote team on a project.
However, it said that it intends to defend itself against the claims.
“At this time, we cannot predict the outcome, or provide a reasonable estimate or range of estimates of the possible outcome or loss, if any, in this matter,” it added.
In the first quarter of the year, Strategy Incorporated (NASDAQ:MSTR) posted a 3.5-percent increase in revenues to $111.1 million from $115.2 million in the same period last year. Net earnings from operations narrowed by 92 percent to $15.4 million from $203.7 million year-on-year.
Overall, MSTR ranks 10th on our list of Friday’s worst-performing stocks. While we acknowledge the potential of MSTR, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MSTR and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
