Strategy's STRC Rebounds 30% as Buybacks Target $100 Stated Value

Strategy's STRC preferred stock has made a significant recovery, rising nearly 30% from its June low as Bitcoin sales and share repurchases have increased demand for the company's flagship income security.

The rebound pushed STRC to an intraday high of $94.20 on August 4, before closing at $92.53. The Nasdaq-listed preferred stock had traded as low as $71.25 on June 26, leaving it almost 29% below its $100 stated amount during Strategy's capital-market selloff.

Strategy repurchased 912,143 STRC shares for $81.2 million between July 27 and August 2, with an average purchase price of about $89.02 per share. This was funded by Bitcoin sales, MSTR common-stock issuance, and Strategy's retained cash.