Sell MSTR by Oct 29, 2026.

This analysis is based on Strategy's **["New & Updated Metrics" presentation](https://assets.contentstack.io/v3/assets/bltf8d808d9b8cebd37/blt26d06a79680e52d7/6a625b32718c5bcb1e629bd9/Strategy_New_Metrics_July_2026.pdf)** released on July 23, 2026. I've also deciphered a lot of the background financial terminology that was left out of the slides. ####**TL;DR: MicroStrategy keeps changing its metrics to fit new narratives**: In summary, a lot of MicroStrategy/Strategy's misleading older metrics for mNAV and BPS were no longer looking positive after diluting/selling MSTR to increase cash reserves or execute STRC buybacks. So they've needed to invent new terminology to …