Earnings Report Live: Strategies Impacted by Bitcoin Crash, Amazon Stock Plummets, Reddit Stock Volatile
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According to CoinWorld, on Thursday, MicroStrategy's stock price plummeted by 17%, with losses widening in after-hours trading, after the company released its fourth-quarter financial report revealing significant unrealized losses on its massive bitcoin holdings. The company reported an operating loss of $17.4 billion in the fourth quarter and a net loss of $12.4 billion, or a loss of $42.93 per share, far below its expectations in December. MicroStrategy holds 713,502 bitcoins, with an average purchase price of $76,052 per bitcoin; as the spot price of bitcoin fell to around $63,000, the company's unrealized losses amounted to approximately $8.9 billion. CEO Michael Saylor responded on Twitter: "HODL".
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