MicroStrategy Shares Drop Amid Citron's Short Position

MicroStrategy's stock plummeted 16% after Citron Research announced a short position against the company, which has heavily invested in Bitcoin. Despite Bitcoin's recent surge, Citron argues that MicroStrategy's stock is detached from Bitcoin fundamentals, especially with the availability of Bitcoin ETFs. This marks a significant downturn for MicroStrategy, which had seen its market value soar earlier in the year.