Wall Street analyst Tom Lee believes that the surge in short positions in MicroStrategy (NASDAQ: MSTR) is a contrarian bullish signal. He pointed out that even in the face of negative news, "consensus" shorting can lead to a rebound. The stock has plummeted over 63% in the past six months due to unrealized Bitcoin losses of nearly $7 billion and has now become the most shorted large-cap stock in the United States. Despite weak momentum and a current price of $124.61, recent analyst ratings remain bullish with an average target price of $254.
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Wall Street analyst Tom Lee believes that the surge in short positions in MicroStrategy (NASDAQ: MSTR) is a contrarian bullish signal. He pointed out that even in the face of negative news, "consensus" shorting can lead to a rebound. The stock has plummeted over 63% in the past six months due to unrealized Bitcoin losses of nearly $7 billion and has now become the most shorted large-cap stock in the United States. Despite weak momentum and a current price of $124.61, recent analyst ratings remain bullish with an average target price of $254.