Strategy's STRC stock falls to all-time low of $88.51

Strategy (MSTR)'s perpetual preferred stock, STRC, fell to a new all-time intraday low of $88.51 before closing at $89 yesterday, Wu Blockchain reported. The stock, which has a par value of $100 per share, is now trading at an approximate 11% discount. According to the company's official website, STRC offers an annual dividend yield of around 11.50%, with the rate adjusted monthly. Strategy had previously stated it could adjust the dividend rate to maintain the stock's price near the $100 level.