Strive’s Variable Rate Series A Perpetual Preferred Stock, trading under the ticker SATA, has cratered to an all-time low in the range of $79.01 to $79.74. That’s below its $80 IPO price from November 2025, which is the kind of milestone no company wants to celebrate.
The drop wasn’t triggered by a deterioration in Strive’s credit quality or some internal meltdown. Instead, it appears to be collateral damage from a broader liquidation-driven selloff hitting digital credit products and Bitcoin-related securities, dragging down similar instruments across the market.
The numbers behind the nosedive
SATA carries a variable dividend rate currently set at 13% APR, with dividends paid daily since June 16, 2026. That daily payout structure made it the first US-listed security to offer daily dividend payments in the perpetual preferred stock category.
When you buy a 13% APR instrument at a discount to its face value, your effective yield climbs higher. At SATA’s recent lows, that effective yield reached approximately 16.3%.
