Strategy’s preferred stock Stretch (STRC) continued to drift lower on Thursday, after locking in its lowest close to date on Wednesday. During intraday trading, the stock hit a low of $82.50 and closed the day at $88.59, according to Yahoo Finance.
STRC, or the Variable Rate Series A Perpetual Stretch Preferred Stock, was designed to trade at $100 by offering a variable dividend, currently at 12.9%, and adjusted monthly. When above par, Strategy issues new shares to buy bitcoin.
Thursday represents one of STRC's highest-volume days on record, with some 10.7 million shares exchanged, compared to the normal average daily volume of roughly 3.4–3.5 million shares, according to STRC.live.
Source: STRC.live
This also appears to be the longest STRC has traded below $90, the price at which it debuted during Strategy’s initial public offering in July 2025.
