Strategy's STRC Bounces Back Above $90 After 24% Rebound

Strategy's STRC variable-rate preferred stock has staged a strong recovery after hitting its lowest closing price in six weeks. On Monday, STRC closed at $92.32, up 3.2% from Friday's close of $89.46 and marking the first time it has cleared the $90 threshold since June 16.

This represents a nearly 24% rebound from the stock's low point on June 26 when it closed at $74.57. Despite the improvement, STRC still trails Strategy's stated target range of $99 to $100.

Strategy has taken steps to support its preferred stock, including selling 1,638 Bitcoin for $104.7 million. The company used $52.4 million of this amount to fund dividends and $52.3 million to repurchase STRC shares. Additionally, Strategy raised $290.6 million through the sale of MSTR shares, with $250 million allocated to its dollar reserve and $28.9 million for STRC repurchases.

The stock's recovery has sparked some optimism about Strategy's financial resilience, but investors are still cautious given the recent selloff.