Cryptocurrency sector stocks tumble, MicroStrategy drops as much as 17 percent
Shares of MicroStrategy tumbled 17% on Tuesday after reporting poor results and a drop in the price of bitcoin, which is set to recover in the near future. As of 1:45 p.m. ET, the price was $1,086, down 15.8 percent. At one point last month, the company's shares also fell as much as 16 percent. While top U.S. exchange Coinbase and U.S. cryptocurrency stocks such as miners Marathon Digital and Riot Platforms have faced such a big sell-off, shares of all three companies were also all Coinbase down as low as 6 percent in midday trading, while Marathon Digital and Riot Platforms were down 9 percent and 7 percent, respectively.
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