My guess is that this is being driven by the shorts.

One approach: treat MSTR like BTC, buy and hodl regardless of price, we know it will go up over time.

Another: MSTR is doing great work, but it’s ultimately giving up your direct control of your money, and depending on market valuation in a manipulated stock market system.

I’m about 95% into BTC, 5% into MSTR due to this risk. And I hold the MSTR because (1) I treat it like a risky leverage play and (2) for my children’s brokerage accounts it was a choice been that and IBIT, and I trust Saylor more than Fink.