Strategy’s STRC preferred stock opens at $95.39, hitting a two-month high

Strategy’s preferred stock STRC opened trading at $95.39 on August 12, marking its highest level in two months. The stock is now sitting less than 5% below its $100 par value, a quiet milestone for an instrument that spent much of the year struggling to hold that psychological floor. What STRC actually is and why $95 matters STRC, formally known as the Variable Rate Series A Perpetual Stretch Preferred Stock, is not your typical preferred share. It was issued on July 29-30, 2025, when Strategy (formerly MicroStrategy) sold 28,011,111 shares at $90 each. That offering raised $2.521 billion, making it the largest US IPO of 2025. The capital has one primary destination: buying more Bitcoin. The “variable rate” part is where things get interesting. STRC’s dividend adjusts monthly based on how the stock trades relative to its $100 par value. When shares dip below $95, the annualized dividend rate gets bumped up by 0.5%. The current annualized dividend rate sits at 12% for August 2026 payment periods. On August 12, the stock traded in a range of roughly $95.34 to $95.81, after closing the previous session at $95.32. The 52-week range tells a more dramatic story: STRC has traded as low as...