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Stretch’s Perpetual Preferred Stock Hits $100 in Pre-Market Trading

Stretch’s Perpetual Preferred Stock Hits $100 in Pre-Market Trading

Strategy CEO Phong Le’s $1,200 purchase of STRC shares underscores renewed confidence in the preferred equity as it returns to par value for the first time since November.

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Fact Check
The evidence strongly supports the truthfulness of the statement. The most critical source is the Kraken page, which explicitly names the security as "Stretch Preferred Stock (STRC)" and tracks its price. This directly links the name in the statement, 'Stretch', to the ticker symbol STRC. This ticker is then corroborated by two highly authoritative sources: the dedicated Yahoo Finance page for "Strategy Inc. (STRC)" and the official corporate website, strategy.com. Both of these sources are described as providing historical quotes and pre-market trading data, which is the exact information required to verify the claim. The convergence of these high-authority, high-relevance sources confirms the existence of the security and indicates that its specific price action, including in pre-market trading, is tracked and available. The remaining sources are irrelevant and offer no contradictory evidence. The combined weight of the primary financial data sources makes it highly probable that the specific price point mentioned in the statement is accurate.
Summary

Stretch (STRC), the perpetual preferred equity issued by bitcoin treasury company Strategy (MSTR), returned to its $100 par value in pre-market trading for the first time since November 2024. Following the rebound, Strategy CEO Phong Le purchased 12 STRC shares at $99.99 each, totaling $1,200, according to BitcoinTreasuries.NET. This price recovery allows for potential at-the-market share offerings to fund additional Bitcoin acquisitions. STRC offers an 11% annual dividend with monthly cash payments and has increased its yield five times since July. MSTR’s common stock gained 4% in pre-market trading to $165, while STRC remained flat at $100.

Terms & Concepts
  • At-the-market (ATM) offering: A method by which a publicly traded company sells newly issued shares directly into the market at prevailing prices.
  • Dividend yield: The annual dividend payment expressed as a percentage of the share price, an indicator of the income generated from an investment.
  • Bitcoin: A decentralized digital currency that operates on a blockchain, enabling peer-to-peer transactions without a central authority.