STRC stock rebounds below $99 as Strategy discloses $193M buyback

Strategy disclosed $193.1 million in STRC stock repurchases on October 19 and raised its preferred-share buyback authorization to $3 billion. Separately, the shares traded near $98.72 at the time of this writing, recovering from a recent dip. Strategy expands its preferred-share buyback program Strategy’s SEC filing shows it repurchased around 1.94 million STRC shares between October 12 and 18. The board increased the preferred-security repurchase authorization from $2 billion to $3 billion. That total includes purchases that have been made already, which leaves $1.16 billion available as of October 18. Importantly, the authorization covers the preferred-security program and STRC.

Source: AMBCrypto