Strategy’s Stretch preferred stock climbs back to $100 par value

STRC regained par for the first time in nearly six months, which could reopen a key funding channel for Strategy's Bitcoin buying Strategy’s Stretch preferred shares are back at $100 par value. That is the first time in nearly six months the security has traded at the level it was designed to hold. For most stocks, a round number is just a round number. For Stretch, ticker STRC, $100 is the line between Strategy being able to raise fresh capital through the instrument and being locked out of it. The long walk back to par STRC is formally called Variable Rate Series A Perpetual Stretch Preferred Stock. Think of it as a hybrid: it trades like a stock but pays like a bond, with a monthly cash dividend set against a stated $100 amount. The security hit $99.95 and then the full $100 mark between roughly October 29 and November 4, 2026. That ended a stretch of 165 days below par. After its July 2025 launch, STRC slid to around $71 as Bitcoin prices fell broadly. Strategy’s response came on several fronts. Management deployed more than $2 billion in share repurchases and kept a cash reserve of $4 billion, positioning that money as support for the recovery and for continued monthly dividen...