Strategy Stock to Erase Nearly Half Its Value as Crypto Craters

Strategy’s stock is still up slightly from where it closed on Election Day. And Wall Street remains optimistic: Strategy has a buy rating from all 11 analysts in a Bloomberg survey, and the average price target sits well above last year’s record at $540.
But even before Monday’s rout, Strategy had already lost lost 28% since the close on Jan. 17, the trading session before Trump’s inauguration.
Other crypto-linked stocks have pulled back as well. Coinbase Global Inc. slid 26% from Jan. 17 through Friday, while Galaxy Digital Holdings Ltd. and crypto miners such as Riot Platforms Inc. have also slumped.