MicroStrategy stock rises after disclosing Capital International had acquired a large equity stake

Shares of MicroStrategy Inc.
rallied 2.3% in afternoon trading Friday, after the enterprise software and bitcoin play disclosed that Capital International Investors had acquired a large equity stake. In a filing with the Securities and Exchange Commission, MicroStrategy said Capital International, with nearly $400 billion in equity investments, now owned 953,242 shares, or 12.2% of MicroStrategy’s Class A shares outstanding, which would be enough to make Capital International the second largest shareholder, according to FactSet. According to Capital International’s latest 13F filing, it didn’t own any Microstrategy shares as of March 31. MicroStrategy, which is seen as a bitcoin play given that it said last month it had acquired more than $2.7 billion worth of bitcoin, has seen its stock fall 11.0% over the past three months, while bitcoin has tumbled 42.4% and the S&P 500
has gained 5.7%.

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