Strategy, Alibaba Group and Nike shares slumped to 52-week lows last week amid declining Bitcoin prices, an accusation from Anthropic, and a series of price target cuts, respectively.
- MSTR stock slumped more than 3.5% at close on Friday, and the company’s market capitalization slipped below 1.
- BABA stock closed down 0.27% lower after Anthropic accused the company last week of “illicitly” using its AI models.
- NKE slipped 0.37% at close amid a slew of price target cuts from Wall Street analysts.
Shares of Strategy (MSTR), Alibaba Group Holding Ltd. (BABA), and Nike Inc. (NKE) slumped to fresh lows last week amid a series of negative catalysts.
MSTR stock slumped more than 3.5% at close on Friday as a sharp decline in Bitcoin prices extended a selloff in the company’s shares. BABA stock closed down 0.27% lower amid Anthropic’s allegations, while NKE slipped 0.37% at close amid a slew of price target cuts.
MSTR Stock’s mNAV Drops Below 1 For The First Time
Strategy’s shares slumped to an annual low of $81.81 as falling Bitcoin prices continued to weigh on the company. The sell-off extended an eighth consecutive session of losses, erasing about 29% of the stock's value last week.
Meanwhile, over the weekend, Strategy's market capitalization slipped below the value of its Bitcoin holdings (mNAV below 1), indicating investors are no longer willing to pay a premium for the stock relative to its underlying Bitcoin assets. The company also faces significant obligations, including $6.75 billion in debt and $15.5 billion in preferred securities, while cash reserves cover less than a year of dividend payments, according to on-chain analyst Axel Adler Jr.
However, Strategy's co-founder and executive chairman, Michael Saylor, hinted at buying more Bitcoin by posting an acquisition-tracking chart on X on Sunday, saying, "We're gonna need more charts." This comes even as market participants believe the company should sell a portion of its Bitcoin holdings to plug the bleed.
Retail sentiment for MSTR, however, was in the ‘bullish’ territory amid ‘high’ message volumes.
Alibaba Slumps After Anthropic Accuses Company Of AI Model Extraction
Alibaba shares fell to a fresh 52-week low of $91.99 on Friday amid AI startup Anthropic’s accusations last week that the company had “illicitly” used its models to conduct operations.
According to Anthropic, thousands of fake accounts were allegedly used to bypass access restrictions and repeatedly query Claude, allowing competitors to harvest its reasoning patterns through a technique known as "adversarial distillation."
Anthropic said this process enables rival AI developers to build competing models at a fraction of the cost by leveraging the outputs of more advanced systems rather than investing heavily in research and training.
The company is also grappling with weak domestic demand, while investors have shifted capital from Chinese internet stocks to semiconductor names in South Korea and Taiwan, adding to selling pressure.
Retail sentiment for BABA, however, was in the ‘extremely bullish’ territory even as the stock has slumped nearly 40% so far this year.
Nike Shares Slide Amid Analyst Price Target Cuts Targets
Nike shares have fallen to multi-year lows, with the stock slipping to an annual low of $40 on Friday as investors grow increasingly concerned that the company's turnaround under CEO Elliott Hill will take longer than expected. Weak demand in China, competition from rivals such as Hoka and Alo, and ongoing sales declines are also pressuring the stock.
Meanwhile, the company has attracted a series of price target cuts in the last week, according to TheFly. Deutsche Bank cut NKE’s price target to $43 from $51 while maintaining a ‘Hold’ rating, citing a challenging operating environment.
Oppenheimer slashed its price target to $60 from $120, warning that aggressive repositioning efforts and macroeconomic headwinds could make 2026 a year of restructuring. Stifel also lowered its target to $50 from $56. BNP Paribas, BTIG, and Citi also slashed price targets on Nike last week.
NKE stock has declined more than 35% this year, with retail sentiment in the ‘extremely bullish’ territory.
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