MSTR Stock Price Outlook as Strategy Raises $21B, Emerges 4th-Largest US Equity Issuer – Bullish or Bearish?

Strategy (NASDAQ: MSTR) stock price was up 5.7% at the time of writing to trade at $143. The gains follow an improved macro environment after the US midterm elections. Oil prices have dropped below $93 per barrel and the Nasdaq index had added more than 300 points at the time of writing.

Meanwhile, Strategy now ranks as the fourth biggest equity issuer in the US suggesting growing demand for the shares by investors.

Strategy Emerges 4th Biggest US Equity Issuer

Strategy CEO, Phong Le, notes that Strategy now ranks fourth after SpaceX, Alphabet and Intel in the dollar value of shares issued so far in 2026.

The Bitcoin treasury company has issued $21.2 billion shares so far in 2026. In contrast, SpaceX has issued $86.3 billion shares while Alphabet and Intel have issued $25.7 billion and $23 billion shares, respectively.

Strategy has been using the equity issuance to fund the ongoing Bitcoin purchases and to also buy back the STRC preferred stock to push it back to its par value of $100.

Is the Equity Issuance Bullish or Bearish for MSTR Stock Price?

Equity issuances can have either a bullish or bearish effect on Strategy shares.

The issuance may suggest that there is high demand for MSTR stock because the shares are down only 8.97% year-to-date. This is a strong performance compared to Coinbase or Bitmine shares that are down 36% and 29%, respectively during the same period.

But at the same time, issuing new shares dilutes the existing shareholders because now there are more outstanding shares in the market than there were at the beginning of the year.

However, Strategy may offset this dilution if there is an increase in the Bitcoin per share, which stood at $150 at the time of writing.

The company’s earnings also cast a bullish outlook on the shares despite the ongoing equity issuance. As CoinGape previously reported, Strategy reported $21 billion in operating income in Q3 2026, with this marking their largest quarter in history.

Wall Street Issues Updated Outlook on Strategy Shares

Mizuho recently reiterated its $165 target for MSTR stock price after the company released its Q3 earnings on October 29. The firm also maintained an outperform rating.

Mizuho analyst Dan Dolev says that the company has a solid balance sheet with 848,517 BTC and $5.1 billion in USD. He also based the $165 target on a decline in the company’s net leverage from 8.4% to 2.4%.

On the other hand, B.Riley has trimmed its target on MSTR stock from $195 to $180. However, it has maintained its buy rating.

The firm says the reason behind trimming the target is because Bitcoin price may not reach $90,000 in Q4 like it had earlier assumed.

MSTR Stock Price Technical Analysis Amid Sharp Rebound

The win of the Democratic Party in the November midterm elections has boosted the demand for US stocks, and MSTR is benefiting from this.

The shares are now on track to having their biggest daily gain since October 20 after rising from $136 to an intraday high of $146.

The CMF is making a higher low, and has moved to the zero line. This move shows that buying pressure is rising and outpacing selling pressure.

MSTR stock has moved above the resistance at the 61.8% Fib of $142 on the daily chart. If the buying pressure remains high, the next target lies at $153.

The shares are also approaching the 200-day EMA of $151. If they move above this price, it could also signal that a bullish reversal is starting.

The lower four-hour timeframe supports a bullish thesis because the RSI line has moved above the signal line. This move shows that the momentum is changing to a bullish one.

However, the ADX line on this four-hour chart is at 15. This shows that the trend is still weak. MSTR stock has to sustain gains across multiple days to confirm that a strong uptrend is underway.