Strategy's Preferred Stock Recovers to $97 After $1.1B in Buybacks
STRC sits 37% above its 52-week low of $71.25.
Summary
Strategy's STRC preferred stock has climbed back to $97.07 from below $75 at the end of June, driven by aggressive buybacks totaling over $1.1 billion across eight separate purchases since late June. The company repurchased 9.96 million shares for $950.8 million at the end of July and another 1.42 million shares for $139.3 million between September 8-13. This follows the June 25 plunge when the preferred stock fell 26% below its $100 par value. The buybacks are part of a stated focus on restoring the preferred to par, though critics argue it diverts attention from Bitcoin accumulation. MSTR common stock has declined 62% over the past year to $126.18.
At the time of this announcement, STRC was trading at $97.45 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $48.5B. The 52-week trading range was $71.25 to $100.42. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: CryptoProwl.