More Alarm Bells Are Being Raised About Sky-High Tech Valuations
The number of downgrades and short calls being made on tech stocks that have soared to the stratosphere has picked up this month.
Author:
Dec 23, 2020 2:27 PM EST
As certain tech stocks soar to jaw-dropping multiples, the number of analysts downgrading companies they otherwise like, due to their valuations, is mounting.
PLTR) - Get Report by Credit Suisse. In cutting Palantir’s shares to Underperform from Neutral, analyst Brad Zelnick said the data mining/analytics software firm’s valuation had become “disconnected from fundamentals” and was 50% above what Credit Suisse saw as fair in a “blue-sky scenario.”
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The senior convertible notes offerings from MicroStrategy come off as a short to medium-term investment offering as the maturity of the notes is slated for December 15, 2025, with the first payout billed for June 15, 2021.
The push from business intelligence and mobile software development company MicroStrategy Incorporated (NASDAQ: MSTR) to bolster its Bitcoin (BTC) reserves through the issuance of its Senior Convertible Notes offerings has gotten even a bigger boost. According to a Coindesk report, the MicroStrategy Senior Convertible Notes offerings which have attracted about $550 million through investors who purchased the notes have also seen an additional $100 million purchase.
MicroStrategy to Issue $550 Million in Convertible Senior Notes to Buy Bitcoin coinspeaker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coinspeaker.com Daily Mail and Mail on Sunday newspapers.
Business intelligence software company MicroStrategy Inc (NASDAQ: MSTR) said Wednesday it would raise $550 million by the way of debt instruments to buy Bitcoin, an increase of $150 million over its Monday