Investors had until last Friday to purchase Stretch (STRC), which currently offers an 11.5% annual dividend, to receive the product’s next monthly cash distribution. Amid heightened demand, the company issued nearly $2 billion worth of preferred shares.
On Monday, STRC was valued at $99.29, after dropping as low as $99.02 the previous trading day. In the run-up to the preferred stock’s ex-dividend date, STRC stayed pinned around its $100 threshold for five straight days, alongside an uptick in issuance.
Meanwhile, Strategy CEO Phong Lee highlighted the firm’s treasury operations, including a “BTC Gain” of $6.6 billion year-to-date. The metric measures how much additional Bitcoin the company has acquired compared to the dilution of issuing new shares.
