Business Insights and Market Implications Summary

Yahoo

• Provides sites and apps for user authentication, security, and spam/abuse prevention as part of the Yahoo family of brands.

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MicroStrategy (MSTR) Financials (USD)

Assets (5-Year Trend)

• Cash & Short Term Investments: Decreased from $566.74M in 2019 to $48.67M in 2023.
• Total Accounts Receivable: Increased from $164.72M in 2019 to $207.72M in 2023.
• Net Property, Plant & Equipment: Decreased from $135.69M in 2019 to $86.28M in 2023.
• Intangible Assets: Grew from $0 in 2019 to $3.63B in 2023.
• Total Assets: Increased from $916.57M in 2019 to $4.76B in 2023.

Liabilities (5-Year Trend)

• Long-Term Debt: Increased from $103.42M in 2019 to $2.24B in 2023.
• Total Liabilities: Increased from $408.01M in 2019 to $2.6B in 2023.

Equity (5-Year Trend)

• Common Equity (Total): Grew from $508.56M in 2019 to $2.16B in 2023.
• Total Shareholders' Equity: Grew from $508.56M in 2019 to $2.16B in 2023.

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Bitcoin Analysis

• BTC exchange balances at a 5-year low, reducing selling pressure and potentially triggering price surges.
• MicroStrategy's Bitcoin accumulation outpaces monthly miner supply (13,500 BTC), compressing supply.
• Acquired Bitcoin used in structured products and yield platforms, delaying immediate price impacts.
• Analysts expect a potential irreversible Bitcoin breakout when demand exceeds equilibrium.

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Analyst Ratings on MicroStrategy (MSTR)

• Benchmark and Bernstein: Reiterated buy ratings with price targets of $600 or more per share.
• Highlighted strategy to purchase more Bitcoin.

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Art Market Report 2025 Key Insights

• Global art market sales: $57.5B in 2024, a 12% YoY decline but 3% increase in transactions.
• High-end market contraction evident; smaller dealers saw 17% annual sales growth.
• 44% of buyers were new to their businesses in 2024.
• Art fairs remain significant, with 31% of dealers identifying them as the most frequent source for new buyers.
• Gallery representation of female artists rose to 41%.

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Collectors Survey 2024 Key Insights

• 91% of HNWIs optimistic about global art market performance in the next six months.
• 88% of HNWIs purchased from at least one new gallery in 2023 and 2024.
• 52% of expenditure allocated to works by new and emerging artists.
• Mainland China respondents reported highest median expenditure: $97,000.
• Impulse buying reduced from 10% in 2023 to 1%; female artist representation reached a seven-year high (44%).

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Art Market Report 2024 Key Insights

• Global art sales: $65B estimated, with the US as the largest market.
• China's sales increased by 9%; online sales grew in importance.
• Declines in interest rates and inflation signal a hopeful outlook.

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Collectors Survey 2023 Key Insights

• Imports of art and antiques reached $30.7B in 2022, exports at $33.4B.
• Median expenditure: $65,000 in the first half of 2023.
• 74% of collectors purchased work at an art fair in 2022.
• 95% of HNW collectors made purchases without viewing works in person.
• Carbon footprint concerns: 57% willing to pay up to 25% extra for sustainability.

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Art Market Report 2023 Key Insights

• Global art sales increased by 3% YoY to $67.8B.
• US market share grew to 45%; online-only sales fell to $11B.
• Low female artist representation linked to lower gallery sales growth.

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Collectors Survey 2022 Key Insights

• Imports and exports of art and antiques increased by 41% and 38% in 2021, respectively.
• Median expenditure increased across markets, especially in France, Mainland China, and Hong Kong.
• 77% optimistic about art market performance over the next six months.

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Art Market Report 2022 Key Insights

• The art market demonstrated resilience in 2021.

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Freight Technologies & TRUMP Token

• Invested $20M in TRUMP tokens due to US-Mexico tariffs concerns.
• Promoted fair trade and AI/Web3; Freight's stock fell over 20% post-announcement, indicating market skepticism.