Wednesday saw the perpetual preferred stock of Strategy (MSTR), known as ‘Stretch’ (STRC), amass an impressive trading volume of approximately $333 million, marking its seventh-highest daily activity since its debut in July 2025. Despite this surge in trade, STRC maintained a stable position around its $100 par value throughout the day, leading executive chairman Michael Saylor to comment, ‘one penny of volatility, $330 million of liquidity, closed at par.’
The instrument is crafted as a short-term, high-yield credit option, providing an 11.5% annual dividend disbursed monthly. Its framework encourages trading near its par value, allowing Strategy to leverage its at-the-market (ATM) issuance program efficiently for acquiring additional bitcoin.
According to STRC.live estimates, the company may have utilized this ATM feature on Wednesday to purchase over 2,000 BTC. The overarching goal of STRC is to achieve double-digit returns while maintaining minimal price volatility, effectively merging income generation with capital stability.
In pre-market trading, Strategy shares were observed at a slight dip around $127, whereas STRC persisted in trading close to its par value near $100.