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Why is MSTU Up Today After Shareholder Vote Anticipation

The ETF Opportunities Trust T-Rex 2X Long MSTR Daily Target ETF (MSTU) closed on January 17th at $13.13, marking a 15.78% increase, driven by a surge in MicroStrategy's stock. MicroStrategy's stock rose 6.9% during mid-day trading, reaching as high as $392.61, as the company prepares for a pivotal shareholder vote on January 21 to significantly increase its authorized share count. This move is expected to provide MicroStrategy with greater flexibility to fund its aggressive Bitcoin acquisition strategy, which has been a key driver of its stock performance. The anticipation of this vote, coupled with the company's ongoing commitment to using Bitcoin as a primary reserve asset, is fueling investor optimism. Additionally, the rise in Bitcoin prices is contributing to the positive momentum, as MicroStrategy's stock is closely correlated with the cryptocurrency's performance.