MicroStrategy Inc shares tumbled after Andrew Left’s Citron Research said in a post on X that it’s betting against the software company, which has effectively transformed itself into a Bitcoin investment fund.

MicroStrategy (NASDAQ:MSTR) slumped 16.2% to $397.28/share on Thursday, reversing earlier gains that saw shares rise nearly 15%, after activist short seller Andrew Left's Citron Research bet against the "overheated" stock.

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