Strategy stock price crashes 66%. Can you still buy? Investment banks cut target prices, with potential gains still reaching 150%

Bitcoin Investment Giant Strategy (MSTR) Stock Price Crashes About 66% in the Second Half of 2025, Leaving Investors Disappointed. Even TD Cowen, the Investment Bank Usually Bullish on the Company, Has to Adjust Its Valuation of Michael Saylor’s Aggressive Bitcoin Strategy. TD Cowen analyst Lance Vitanza recently lowered Strategy’s 12-month target price from $500 to $440. However, based on the current stock price of approximately $175, there is still up to 150% upside potential. Lance Vitanza observed that even though Bitcoin is in a “temporary downturn,” Strategy has been actively raising funds and continuing to buy more Bitcoin. It is estimated that Strategy will add another 155,000 Bitcoins this year, far exceeding the original estimate of 90,000. However, everything comes at a cost. Lance Vitanza analyzed that because Strategy’s recent issuance of common stock has a negligible premium over net asset value (NAV), this will dilute the company’s key performance indicator — “Bitcoin Yield (BTC Yield).” In the latest assessment, Lance Vitanza downgraded Strategy’s Bitcoin yield for this year from 8.8% to 7.1%, significantly below the 22.8% level projected for 2025; he also expects Strategy’s “Bitcoin USD Gain (BTC $ Gain)” to reach $9.4 billion this year, up from the previous forecast of $6.3 billion.