Strategy targets $99–$100 for STRC as buyback cap reaches $3 billion

Strategy has restated its objective for STRC to trade between $99 and $100 over time after disclosing $193.1 million in preferred-share repurchases and a $3 billion buyback authorization. Strategy reiterated its $99–$100 STRC target after repurchasing $193.1 million of the preferred shares. The company raised its preferred-security buyback authorization to $3 billion, leaving $1.16 billion available. STRC carries a 12% annualized dividend rate, while current policy bars new issuance below $100. Strategy spent $385.5 million on STRC repurchases over two weeks, versus $43.6 million on Bitcoin. Strategy said in an Oct.

Source: crypto.news