MicroStrategy (NYSE:MSTR) recently reported a net loss of more than $1 billion in the second quarter compared with a loss of about $299.3 million in the same period last year. Co-founder Michael Saylor promptly resigned on the heels of the news.
As a result, financial services company Canaccord Genuity slashed the stock’s 12-month price target from $453 to $372, citing an uncertain macro environment in the second half of 2022.
