Strategy’s STRC Hits New All-Time Low at $88.51

Strategy’s variable-rate perpetual preferred stock STRC came under pressure during Wednesday’s session, finishing at $89 after dipping as low as $88.51 intraday. The move set a new all-time low for the security and deepened its year-to-date decline to roughly 10.7%.

With the latest drop, STRC has moved further away from its $100 stated value, now trading at an estimated 11% discount to par.

According to company disclosures, STRC has an annualized dividend rate of 11.50%, revised monthly. Strategy previously noted that this adjustable payout structure was intended to support the stock trading price near $100.

Source: Strategy