MicroStrategy price target lowered to $1,590 from $1,810 at Canaccord

Canaccord lowered the firm’s price target on MicroStrategy to $1,590 from $1,810 and keeps a Buy rating on the shares. The firm said the company’s strategy was again in full swing in Q1 during what was a milestone quarter given the approvals of US-listed spot BTC ETF approvals. The firm said with the recent halvng event of BTC, the amount of new Bitcoin minded per day has been reduced by 50% and as a result they believe the supply/demand setup remains active.