Strategy's STRC Preferred Stock Hits $82.53 Intraday Low on June 18, Down 17.5% in Volatile Session

According to Bitcoin.com News, on June 18, Strategy's STRC preferred stock fell to an intraday low of $82.53 before closing at $88.59, marking a 17.5% decline from recent levels and trading roughly 11% to 17% below its $100 par target. The volatile session saw more than 10 million shares traded. The 11.50% annualized dividend rate, paid semi-monthly in cash, drove an effective yield of roughly 12.98% at the closing price, yet failed to prevent the decline.

Market commentary attributed the move to a leverage flush rather than fundamental credit concerns, with some analysts describing it as a liquidation cascade affecting leveraged holders. Strategy uses proceeds from STRC and similar securities to accumulate bitcoin, with the company holding approximately 846,842 BTC as of mid-June.