On September 23, Strategy rose 3.24% in pre-market trading to $169.98 per share, with turnover of approximately $22.54 million. The move extends a powerful rally that has seen the stock gain roughly 48% over the past month, making it the top performer among Nasdaq 100 constituents.

The latest catalyst came from B. Riley, which raised its price target on Strategy to $195 from $175 while maintaining a Buy rating. According to analyst consensus, the stock carries an average Buy rating with a mean target of $234.11. Separately, Bitcoin surged past $85,000 to an eight-month high, with Bitwise CIO Matt Hougan declaring that the prolonged crypto winter has ended and a new bull cycle has begun. Bitcoin has gained over 7% in five sessions and nearly 35% over three months.

Strategy, which holds approximately 845,050 BTC acquired at an average cost of roughly $75,412, functions as a high-beta proxy for Bitcoin exposure. The stock rebounded sharply from its 52-week low of $81.81, though it remains well below its peak of $365.21. On September 22, options flow showed a $5.01 million bull call spread, signaling continued institutional appetite for upside positioning.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)