Strategy's STRC Stock Rebounds by 24% from June Low

Strategy's STRC variable-rate preferred stock has rebounded by nearly 24% from its June closing low, reaching above $90 for the first time in seven weeks. The stock closed at $92.32 on Monday, up 3.2% from Friday's close of $89.46. This recovery comes after Strategy took steps to support STRC, including selling 1,638 Bitcoin worth $104.7 million. Of this amount, $52.4 million funded preferred-stock dividends and $52.3 million repurchased STRC shares.

Strategy also raised $290.6 million through MSTR share sales, with $250 million allocated to its dollar reserve and $28.9 million for STRC repurchases. The company used these funds to buy back 912,143 STRC shares worth $81.2 million and increased its dollar reserve to $4 billion.

Despite this recovery, STRC remains below Strategy's target range of $99 to $100. The rebound follows concerns about the Bitcoin treasury company's financial resilience after a June selloff.