MSTR Stock Jumps as STRC Preferred Nears Par Value Amid Eased Rate Hike Fears

Strategy Inc's stock jumped by 5.1% to $135.17 on September 11, following the release of August CPI data that eased rate hike fears and injected fresh volatility into crypto-linked stocks.

The STRC preferred stock, which is used as collateral for Strategy's Bitcoin purchases, hit a 15-week high at $98.64, up 38% since June 26 and just $1.36 below its par value of $100.

Strategy has been actively buying back STRC, spending $811.5 million in total since July, funded by selling MSTR stock and Bitcoin.

Canaccord Genuity raised its price target on MSTR from $175 to $179, citing optimism around a Bitcoin price recovery, while keeping a Buy rating in place.