Strategy targets $99–$100 for STRC as buyback cap reaches $3 billion

Strategy has restated its objective for STRC to trade between $99 and $100 over time after disclosing $193.1 million in preferred-share repurchases and a $3 billion buyback authorization. Summary Strategy reiterated its $99–$100 STRC target after repurchasing $193.1 million of the preferred shares. The company raised its preferred-security buyback authorization to $3 billion, leaving $1.16 billion available. STRC carries a 12% annualized dividend rate, while current policy bars new issuance below $100. Strategy spent $385.5 million on STRC repurchases over two weeks, versus $43.6 million on Bitcoin. Strategy said in an Oct. 19 post that its “objective is for $STRC to trade at $99-$100 over time,” alongside a graphic listing the measures it has taken to support the security. Its latest filing covers transactions between Oct. 12 and 18. The company’s message follows a retreat below that range in the last completed US trading session. Stock Analysis’s historical table records an Oct. 16 close of $97.72, down 1.82%, after STRC traded between $97.56 and $99.50. Measured against the $100 stated amount, Friday’s closing price represented a 2.28% discount. The stock had closed at $99.90 on...