$MSTR - The 1st down leg of the last bear market(Feb 2021-Jan 2022) was -77%. The total drawdown at the bear market low in Dec 2022 was -90%. The 1st down leg of the current bear market(Nov 2024-Feb 2026) was -81%. A 90% drawdown at the bear market low in Q4 would take it to $54.

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