Strategy stock sinks as Saylor puts Bitcoin buys on hold

Strategy shares fell 4.56% to $93.28 on July 31 after the company reported an $8.22 billion quarterly loss and prioritized restoring its STRC preferred stock to its $100 par value. Summary Strategy stock closed at $93.28, approaching its lower Bollinger Band at $90.31. The company reported an $8.22 billion net loss after recording an $8.32 billion unrealized Bitcoin loss. Michael Saylor said Strategy would hold both cash and Bitcoin instead of directing all available capital toward BTC. Analysts at Benchmark and H.C. Wainwright maintained their buy ratings despite the sell-off. Strategy stock slides after $8.22B quarterly loss Strategy stock traded as low as $89.21 on Thursday before recovering to close at $93.28. The 4.56% decline took the Nasdaq-listed company below $90 during the session for the first time since July 1. The decline followed Strategy’s second-quarter results, which included an $8.32 billion unrealized loss on its Bitcoin holdings. That pushed the company to a net loss of $8.22 billion, or $24.45 per share, during the quarter. Strategy held 843,775 BTC at the end of the reporting period, representing a 25% increase from the start of the year. The company acquired ...