Strategy’s STRC Preferred Stock Tops $100 After $2.25B Buybacks

The recovery back to the stated minimum issuance price is the detail that matters: it reopens a funding channel that had effectively been shut while the preferred traded below par. For a company leaning on preferred capital, the buybacks look less like a signal of strength than a repair job on the instrument's marketability. The open question is whether STRC holds above that threshold long enough for issuance to resume on terms the company finds acceptable, or whether the level acts as a ceiling rather than a floor.