What to know:
- Board member Jarrod Patten thought, “Why not buy more” and snagged 5,000 STRD shares, adding to his stash of 28,000 MSTR Class A shares and 10,000 STRF shares. Because who doesnāt want a bit of everything? šø
- STRD boasts a lofty 10% annual dividendābecause apparently, they think weāre all dating billionairesāwithout any management fees, making it the diva of Strategyās preferred stocks. But beware: it’s non-cumulative, so if dividends arenāt declared, they vanish faster than your weekend plans.
Strategy (MSTR)ānot to be confused with that thing you find in your walletāhas finally launched its third “bitcoin-backed preferred stock”, STRD, on the Nasdaq. Shares graced the trading floor on Wednesday, probably feeling quite fancy doing their debut dance.
The shiny new security, dubbed the 10% Series A Perpetual Stride Preferred Stock (try saying that after a glass of wine), managed a tiny 0.24% gain on its first day. Progress! š
Offering an eye-popping 10% annual dividend, STRD is currently the star of Strategyās preferred stock lineup, outshining its siblings STRF and STRK. But (because thereās always a catch) it isnāt convertible or cumulativeāso dividends are only paid if the board feels like coughing up the cash, otherwise, they just ghost you. Classic.
Despite the riskier stance, this product is clearly aimed at the brave souls ready to gamble for high yields with no management fees clogging the boat. Truly luxurious, if risky.
Strategy hocks nearly $1 billion in this fantastic financial circus, planning to sell 11.76 million shares at $85 each. After expenses, expect to see around $979.7 million sprinkled into their coffersāprobably to buy more bitcoin or very fancy espresso machines.
Investor enthusiasm? Through the roof. Even inside the boardroom, Jarrod Patten took himself a little giftābuying 5,000 more STRD shares. He already has 28,000 MSTR Class A and 10,000 STRF. Looks like someoneās playing Monopoly and taking the game very seriously. š¦
Read More
2025-06-12 14:01