Strategy STRC Falls Below $99 to $98.57 Today; Cash Reserves Drop to $871M

GateNews
According to CoinDesk, Strategy's preferred share STRC fell to $97.11 today (May 29), later recovering to $98.57. The decline reflects concerns about the company's financing flexibility via its ATM issuance program. Following a $1.5 billion convertible debt buyback, Strategy's cash reserves have dropped to approximately $871 million, providing only about six months of coverage for its estimated $1.7 billion annual preferred dividend obligations.
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