MicroStrategy Stock Plummets Amid Citron's Short Position Announcement

Citron Research has announced a short position in MicroStrategy, the largest corporate holder of bitcoin, citing a detachment from bitcoin fundamentals despite a recent surge in bitcoin prices. MicroStrategy's shares fell over 8% following the announcement, even as bitcoin prices approached $100,000 after Donald Trump's presidential election victory. Citron expressed respect for MicroStrategy's Executive Chairman Michael Saylor but suggested the company's stock is overheated. MicroStrategy has been actively raising capital to acquire more bitcoin, including a recent $2.6 billion debt offering.