Strategy’s $139M preferred-stock buyback draws attention as MSTR rises 4%

Strategy Inc., the company formerly known as MicroStrategy, just spent $139.3 million buying back its own preferred stock. The market responded by pushing MSTR shares up 4.3%. The buyback targeted Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, ticker STRC, scooping up 1,420,467 shares between September 8 and 13. The purchase was funded entirely from the company’s USD cash reserves. The numbers behind the buyback Strategy executed this repurchase as part of a larger $2 billion digital credit securities repurchase program authorized earlier in 2026. After this latest round, approximately $1.05 billion remains available under the preferred securities buyback authorization. The STRC shares were trading just below their $100 par value at the time of purchase. Buying preferred stock below par reduces future dividend costs while simultaneously putting a floor under the stock price. The company had previously repurchased $176.3 million worth of STRC shares, making the cumulative effort a clear pattern rather than a one-off decision. As of September 14, Strategy reported USD reserves of $5.1 billion and cash of $1.3 billion. That liquidity buffer is significant for a c...