STRC Shares Rise Toward $99 as Strategy Raises Preferred Buyback Cap

Strategy Inc's STRC preferred shares recovered to about $98.72 during Oct. 19 trading, remaining below $100 as the company disclosed $193.1 million in repurchases and expanded its preferred-securities buyback program. STRC had pulled back from October levels near $100. The intraday rebound left the shares below that mark. Strategy repurchased about 1.94 million STRC shares from Oct. 12 through Oct. 18 using cash held for general corporate purposes. Its board raised the spending limit for its broader preferred-securities repurchase program from $2 billion to $3 billion. The limit includes earlier purchases, leaving $1.16 billion available as of Oct. 18.

Source: TokenPost