Strategy's STRC perpetual preferred stock falls below $72, hits record low

Strategy's STRC perpetual preferred stock fell below $72 shortly after the market open, marking a new all-time low. The decline leaves the shares down 15% over the past five trading sessions, underscoring a sharp near-term selloff in the security. Perpetual preferred stock is a type of preferred share with no maturity date, and its price can be sensitive to shifts in risk appetite, yield expectations and issuer-specific sentiment.