Deep Tide TechFlow News, January 7th, according to CoinDesk, Strategy (MSTR) issued perpetual preferred stock Stretch (STRC) which, during pre-market trading on Wednesday, for the first time since early November, returned to a $100 face value. This price level creates conditions for the company to raise funds through market issuance of (ATM) to purchase more Bitcoin.
The last time STRC traded at this level was between November 4th and 13th, after which it fell close to $90. The preferred stock currently offers an 11% annual dividend, paid monthly in cash, marking the fifth dividend increase since the product was launched in July.
As a short-term high-yield credit product, STRC’s dividend yield resets monthly, aiming to encourage trading around the $100 face value and help reduce price volatility. Since its launch, STRC has increased by 16%, offering an approximate 11% effective yield.
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Strategy perpetual preferred stock STRC reverts to a $100 face value, which may trigger more Bitcoin purchases
Deep Tide TechFlow News, January 7th, according to CoinDesk, Strategy (MSTR) issued perpetual preferred stock Stretch (STRC) which, during pre-market trading on Wednesday, for the first time since early November, returned to a $100 face value. This price level creates conditions for the company to raise funds through market issuance of (ATM) to purchase more Bitcoin.
The last time STRC traded at this level was between November 4th and 13th, after which it fell close to $90. The preferred stock currently offers an 11% annual dividend, paid monthly in cash, marking the fifth dividend increase since the product was launched in July.
As a short-term high-yield credit product, STRC’s dividend yield resets monthly, aiming to encourage trading around the $100 face value and help reduce price volatility. Since its launch, STRC has increased by 16%, offering an approximate 11% effective yield.