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2021-04-12 18:49:41

MicroStrategy stock unchanged after report that HSBC bans customer from buying its shares

MicroStrategy (MSTR) shares are largely unchanged after a report that HSBC (HSBC) has banned customers on its online trading platform from buying shares of the company.HSBC is blocking customers from the MicroStrategy shares, describing them as a "virtual currency product," according to a Reuters report.HSBC won't facilitate the buying or exchange or products related to or referencing the performance of virtual currencies, Reuters said, citing a message sent to an HSBC InvestDirect client.Earlier, MicroStrategy said its board has modified the compensation of non-employee directors, who will receive all of their service fees in bitcoin instead of cash going forward.Last week, Canaccord Genunity came out bullish on MicroStrategy, citing the company's "innovative thinking" of using bitcoin to drive investor value, initiating the stock with a Buy rating and a $920 price target.

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