Strategy's STRC slips below $99 as Strive captures investor attention

STRC has struggled to maintain its $100 target price, while Strategy's reduced cash reserves and dividend obligations are drawing increased investor attention. What to know : STRC fell to $97.11 before recovering to close at $98.57, raising questions about Strategy's ability to continue using the preferred security as an efficient capital-raising vehicle through ATM issuance. Following the $1.5 billion repurchase of convertible debt, Strategy's cash reserves have fallen to roughly $871 million, covering only about six months of its estimated $1.7 billion annual preferred dividend obligations. Strive's perpetual preferred security, SATA, has remained closely tied to its $100 par value, supported by a roughly 13% dividend yield and the company's planned introduction of daily dividend payments.