The strategy’s ( MSTR ) dividend-paying preferred stock, STRC, closed at $91.79 on Tuesday, the third lowest since trading began in July 2025, amid lower bitcoin prices and debt concerns.
The only lower closes occurred during two sessions later that month, when STRC fell as low as $88.60. The security was originally priced at approximately $90 in its debut.
STRC was designed to trade as close as possible to its par value of $100. However, it has remained below that level for an extended period and has not traded at $100 since May 15, last month’s ex-dividend date.
Historically, STRC would trade near its par value of $100 prior to the ex-dividend date, the cutoff point at which new buyers are no longer eligible for the upcoming dividend. Once the stock went ex-dividend, it often fell by roughly the value of the dividend before gradually coming back toward par, but on June 15, STRC never reached par.
Several factors appear to be contributing to STRC’s continued weakness.
First, the security has historically traded in tandem with bitcoin, and bitcoin remains under pressure, hovering around $65,000 and about 50% below its October high.
