Strategy stock price falls below $100, hitting a new low since March 2024

On June 24, according to data, Strategy's stock price fell below $100, reaching a new low since March 2024, currently at $99.8, down more than 3%.
Strategy's stock price falling below $100 is a market response to its core business model—the ongoing skepticism and liquidation of its "Bitcoin vault." Since Q4 2025, its stock price has sharply declined from a high of $543, accompanied by Bitcoin prices repeatedly falling below its holding cost line (about $76,037), exposing the company to massive unrealized losses.
Recently, its financing tool preferred stock STRC has severely decoupled to $82.7, and in early June, it broke its "never sell Bitcoin" promise by selling Bitcoin, both revealing dual pressures on its cash flow and market confidence.
Most notably, the current stock price has fallen below the $88.8 per share of its preferred stock STRC at the June 19 close. This indicates that the market's valuation of Strategy's common equity is even lower than the residual value of its interest-bearing preferred stock, reflecting extreme pessimism about equity value and possibly signaling that its cycle of issuing stock to finance Bitcoin purchases is nearing collapse. $STRK
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