10X Research recommends a bearish options strategy on MicroStrategy (MSTR) as its stock price diverges from Bitcoin's bull run, indicating waning investor enthusiasm. The suggested bear put spread could profit if MSTR falls to $300 or lower by June 27, despite Bitcoin reaching record highs. This divergence raises concerns about the disconnect between Bitcoin's strength and MSTR's fading momentum.

GameStop has announced a $1.75 billion convertible senior note offering to further its bitcoin treasury strategy, following its acquisition of 4,710 bitcoins in May for around $500 million. The company aims to use the proceeds for investments aligned with its investment policy, which includes adding bitcoin as a reserve asset. Following the announcement, GameStop's shares fell by 10% in after-hours trading.

Trump Media & Technology Group experienced a 3.8% decline in stock value after reporting a $20 million loss for Q2, primarily due to legal fees from its SPAC merger. The company also announced plans for a utility token linked to its rewards program and revealed it holds $2 billion in bitcoin, making it one of the largest bitcoin treasuries among public companies.