Despite Strategy’s attempts to bring STRC, its variable rate perpetual stock, back to par by repeatedly purchasing hundreds of millions of dollars worth, the perps have stubbornly remained below parity since May 15.
This means that through numerous promises from the C-suite and board, MSTR has been unable to succeed in its stated goal of getting STRC back to $100.
Strategy and its variable rate perpetual shares were hurt by the recent announcement by MSCI that MSTR is considered a “non-operating business” and will be delisted from its Global Investable Market Indexes.
As previously reported by Protos, Strategy’s plan to get STRC back to par by issuing new shares of MSTR, occasionally selling off a small portion of its massive BTC stash, and buying back a significant chunk of available STRC shares has failed to materialize.
While recently suffering from the MSCI delisting, in September the failure of the CLARITY Act to pass in the US aligned with MSTR falling 7% and STRC falling from roughly $0.99 to $0.97.
Prior to that, both Strategy and its perps had plummeted in value due to reporting a massive $8 billion loss during its Q2 earnings report.
It’s unclear what to expect from MSTR when it reports Q3 numbers on October 29, but Protos will be covering the earnings call and reporting the results.
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