Strategy’s STRC preferred stock sinks to record $89, slipping below $100 par

Strategy’s preferred stock STRC has fallen to a record low of $89, trading below its $100 par value for the first time. With the shares now below par, the company has paused issuing STRC through its at-the-market program, reducing a key channel it uses to raise cash for bitcoin purchases. The decline follows Strategy’s first bitcoin sale since it began accumulating BTC in 2022 to fund preferred dividends, according to the company.