Strategy’s STRC retakes $90 after 24% rebound from June closing low
Summary
Strategy’s variable-rate preferred stock, STRC, closed at $92.32, its first finish above $90 in seven weeks and nearly 24% above its June 26 low of $74.57. The rebound followed support measures aimed at stabilizing the stock near its $100 stated value. Strategy sold 1,638 Bitcoin for $104.7 million, using $52.4 million to pay preferred dividends and $52.3 million to repurchase STRC. It also raised $290.6 million by selling MSTR shares, including $250 million for its dollar reserve and $28.9 million for additional STRC buybacks. Strategy repurchased 912,143 STRC shares for $81.2 million and lifted its dollar reserve to $4 billion. Despite the recovery, STRC remains below the $99 to $100 target range.
