Strategy’s Stretch preferred stock climbs back to $100 par value

Strategy’s Stretch preferred stock has recovered to its $100 par value, restoring the company’s ability to raise capital through the instrument. The rebound matters because it reopens a funding channel that Strategy has used to accumulate Bitcoin, though future issuance would carry higher dividend costs than earlier rounds. The move signals renewed investor demand for the preferred shares after a period trading below par. Watch whether Strategy resumes ATM-style sales of Stretch and whether proceeds translate into additional Bitcoin purchases, alongside the dividend burden those sales imply.