Strategy's STRC stock falls to record low of $89

The preferred share STRC of Strategy falls to a new low. The share closes at $89 and even touches $88.51 intraday, representing a loss of approximately 10.7% since the start of the year. STRC now stands about 11% below its par value of $100 per share.

What exactly is STRC?

STRC is a perpetual preferred share of Strategy with a variable dividend rate. At present, the share pays an annual dividend of 11.50%, adjusted monthly. Through this monthly adjustment, Strategy aims to keep the share trading close to its par value of $100. That is currently not working, as the share is trading significantly lower.

The share is listed on the Nasdaq and available through most major brokerage platforms. The effective yield currently stands at 12.92%, indicating that investors are currently receiving a relatively high return relative to the current market price. The total notional value amounts to $10.489,5 million and the average daily trading volume over the past 30 days is $367.2 million.

Volatility and dividend structure

Despite the intention to offer stability, STRC shows considerable volatility. The historical volatility over the past 30 days stands at 21.3%, which is relatively high for a preferred share. The BTC Rating of the share is 3.1x, reflecting the exposure to Bitcoin within the broader strategy of the company.

The next payment date is scheduled for 30 June 2026, with a transition payment date on 15 July 2026. The record date is set for 15 June 2026. Although the dividend structure is designed to limit price fluctuations, the current price indicates that the market for now has little confidence in a return to par.