Why MicroStrategy Stock Jumped Today

Shares of MicroStrategy (NASDAQ: MSTR) rose on Tuesday after the software company announced plans for its hoard of cash. MicroStrategy has commenced a modified Dutch auction tender offer for its common stock, and it has bought a significant quantity of bitcoins. Shares of MicroStrategy were up about 10.3% at 12:50 p.m. EDT.

MicroStrategy had over $500 million of cash and short-term investments at the end of June. The company previously announced plans to return about half of that to shareholders while investing roughly the same amount in alternative assets.

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Source Fool.com