Has the iPhone Moment Arrived for Michael Saylor's Preferred Stock "Stretch" at MicroStrategy

Source: CryptoNewsNet Original Title: Has the iPhone moment arrived for Michael Saylor’s preferred stock “Stretch” at Strategy Original Link: Michael Saylor, executive chairman of MicroStrategy (MSTR), the world’s largest public holder of bitcoin, introduced the firm’s fourth perpetual preferred equity offering, Stretch (STRC), in late July. Saylor described STRC as MicroStrategy’s iPhone moment, a breakthrough that redefines corporate finance.

STRC, dubbed by the firm as “Short Duration High Yield Credit” Stretch, is a perpetual preferred stock designed to behave like a high yield, low volatility cash instrument. It pays an 11% annual dividend, distributed monthly in cash, based on a $100 par value.

Unlike traditional preferred shares, the dividend can be adjusted on a monthly basis under preset rules. The objective is straightforward: keep STRC trading close to $100 and reduce the price swings normally associated with high yielding securities.