Strategy's Stretch Preferred Stock Returns Near $100 Par After Eight Buybacks

โดย Cryptoprowl·US·Read original
Summary · why it matters

Strategy's preferred stock, known as Stretch, has climbed back near its $100 U.S. par value following a series of aggressive buybacks by the cryptocurrency acquirer. The preferred stock, which trades under the ticker STRC, closed at $97.07 U.S. per share on Sept. 17, up from under $75 U.S. at the end of June. Strategy has said it is focused on returning the preferred stock to its $100 U.S. par value. To that end, the company repurchased nearly 9.96 million preferred shares at a cost of $950.8 million U.S. at the end of July, and more recently bought another 1,420,467 shares between Sept. 8 and Sept. 13 for $139.3 million U.S. In all, Strategy has bought back its preferred stock on eight occasions since the end of June. The preferred stock carries a 12% annualized dividend yield and pays a distribution of $0.50 U.S. per share twice a month. Some investors have criticized the company's focus on the preferred stock and maintaining its par value, arguing it has diverted attention from accumulating Bitcoin, and Strategy has held off on Bitcoin purchases while buying back the preferred stock, even selling some BTC at a loss in recent months to raise cash. MSTR stock has declined 62% over the last 12 months to trade at $126.18 U.S. per share.

Impact on assets 2

Digital Finance & Tokenization▼ · 1 stocks
MicroStrategy Incorporated
MSTR
▼ NegativeCapitalrelevance

Strategy has diverted cash to preferred-stock buybacks, held off Bitcoin purchases, and sold BTC at a loss, with MSTR down 62% over 12 months.

Others▼ · 1 stocks
Bitcoin
BTC-USD
▼ NegativeDemandrelevance

Strategy, a major Bitcoin acquirer, has paused Bitcoin purchases and sold some BTC at a loss to fund preferred buybacks.

Theme Impact 1

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