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Strategy's $STRC Slips Below IPO Price
Saylor's preferred stock STRC closed near $83, below its $90 IPO price and $100 par.
Below par, the ATM stalls. With BTC near $64K and an 11.50% dividend due, $BTC sales become the fallback to fund it.
Strategy already sold 32 BTC in May to cover dividends, first sale since 2022. Tiny size, but it knocked BTC ~10% and wiped billions.