Strategy’s preferred stock, known as Stretch and trading under the ticker STRC, fell to an all-time intraday low of $88.50 on June 17, closing at $89, marking the first time it has traded below its $90 initial public offering price. The Bitcoin-backed equity, issued by the serial Bitcoin acquirer led by Chairman Michael Saylor, was launched in July 2025 to raise funds for Bitcoin purchases and was designed to maintain a stable price of around $100 through monthly rate adjustments while paying a high dividend, currently yielding 12.9% on a bi-monthly basis. Analysts attribute the decline to Bitcoin’s slump at $64,000 and concerns over the dividend’s sustainability, noting that in late May Strategy sold 32 Bitcoin for $2.5 million to help fund distributions, its first Bitcoin sale since 2022. Strategy’s common stock, MSTR, has fallen 68% over the past 12 months to $116.56.
MicroStrategy IncorporatedPreferred stock STRC fell below IPO price, common stock MSTR down 68% over 12 months, and company sold Bitcoin to fund dividend.