STRC Slides 8.2% Below Par As Strategy’s Bitcoin Funding Model Faces Fresh Test
Strategy’s STRC preferred stock closed Tuesday at $91.79, leaving the security 8.2% below its $100 stated value and putting fresh pressure on a product designed to trade close to par. The 3.6% daily decline pushed STRC near the bottom of its trading range since launch. Shares weakened further during Wednesday trading, extending the discount even after the lower price lifted the effective annual yield to roughly 12.5%.