Why Strategy Stock Is Plummeting Today

Shares of Strategy (MSTR -11.51%) are trading lower on Tuesday. The company's stock lost 11.7% as of 12:25 p.m. ET and had lost as much as 12.6% earlier in the day. The drop comes as the S&P 500 (^GSPC -0.46%) lost 0.9% and the Nasdaq Composite (^IXIC -1.09%) lost 1.6%.Strategy, known as MicroStrategy until earlier this month, announced on Monday that it had completed its private offering, raising $2 billion in capital, which it used to buy additional Bitcoins.A bold strategyThe company purchased 20,356 Bit ...