- Bitcoin and meme stocks remained big movers on Tuesday. Microstrategy (NASDAQ:MSTR) expanded its plan to borrow money to purchase Bitcoin (BTC-USD), even as the cryptocurrency dropped on the session. Meanwhile, Wendy's (NASDAQ:WEN) became the newest meme-stock darling.
- Microstrategy made news earlier this week with a bond offering meant to raise $400 million earmarked for the purchase of Bitcoin. This came on the same day the company revealed a $285 million loss related to Bitcoin fluctuations.
- Not satisfied with its original planned Bitcoin purchase, MSTR pushed even further on Tuesday. The company increased its planned bond sale to $500 million, with the money still slated for Bitcoin acquisition.
- Speaking of Bitcoin ... the price of cryptos like Bitcoin and Ethereum (ETH-USD) plunged Tuesday on news that U.S. federal agents had seized a big chunk of the ransom paid in the Colonial Pipeline ransomware attack. The decline was spurred on concerns about cryptocurrency security.
- Meme stocks remained in the news on Tuesday. This time, Wendy's became the most visible beneficiary. Shares of the fast-food chain jumped to an all-time high amid meme-investor interest.
- Positive analyst comments have brought significant attention to NextDecade (NASDAQ:NEXT) in recent days. Shares of the liquified natural gas company doubled in two days following bullish Wall Street commentary.
- On the other side of the ledger, Lordstown Motors (NASDAQ:RIDE) suffered a massive setback on Tuesday. Shares of the electric car maker dropped more than 16% after it issued a going-concern warning.