Strategy’s Preferred Stock Nears Par Value After Buybacks

The preferred stock of Strategy (NASDAQ: $MSTR) is back near its par value of $100 U.S. per share following aggressive buybacks by the serial cryptocurrency acquirer. The preferred stock, known as Stretch (NASDAQ: $STRC), finished trading at $97.07 U.S. per share on Sept. 17. The share price had been under $75 U.S. at the end of June this year. Strategy has said that it is focused on getting the preferred stock back to its par value of $100 U.S.