Strategy’s STRC preferred stock extended its selloff Thursday, falling below $76 after already setting an all-time low the previous day. STRC recently traded near $74.18, after opening at $81.40 and sliding more than 8% intraday. The move pushed STRC far below the $100 stated amount that anchors the preferred-stock structure. Strategy’s own STRC materials describe the security as a variable-rate perpetual preferred designed to encourage trading around the $100 par value, with an 11.50% annual dividend rate paid in cash.