Strategy CEO lays out $99-$100 STRC goal; stock drops—here's what's changing

[Microstrategy Headquarters Building, Vienna, Virginia (USA)]

Strategy (NASDAQ: MSTR [https://seekingalpha.com/symbol/MSTR]) remained in focus after its second-quarter earnings, with management providing fresh details on its long-term capital strategy even as the stock experienced a volatile trading session.

The shares fell as much as 8% on Friday before recovering to trade around $93.58. Moreover, the stock is now down 37.87% year to date.

During the earnings call [https://seekingalpha.com/article/4928384-strategy-inc-2026-q2-results-earnings-call-presentation], President and CEO Phong Le said the company's primary corporate objective is for Strategy's Perpetual Stretch Preferred Stock (STRC [https://seekingalpha.com/symbol/STRC]) to trade consistently around $99-$100 over time.

To support that goal, the crypto-related company plans to actively manage capital through Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) sales when needed, security buybacks, dividend adjustments, and disciplined share issuance.

The company also highlighted its capital allocation activity on X [https://x.com/Strategy/status/2083240892693954600?s=20], noting that as of July 27, it had bought 174.9K Bitcoin this year while selling only 3.6K coins, meaning it purchased 48x more Bitcoin than it sold. At the same time, Strategy issued $7.52B of STRC and repurchased just $25M, or roughly 300x more issuance than buybacks.

The comments build on the company's broader shift from simply raising capital to actively managing its balance sheet. During the quarter, the company also introduced a $1B authorization to repurchase Digital Credit Securities, including STRC, when they trade below par, alongside a separate $1B buyback program for Strategy shares when management believes they trade below Net Bitcoin Per Share value.

Wall Street remains optimistic on the stock, with analysts maintaining a 'Strong Buy' rating [https://seekingalpha.com/symbol/MSTR/ratings/sell-side-ratings]. However, Seeking Alpha Quant rates the shares 'Strong Sell,' while Seeking Alpha analysts have a 'Hold rating.'

MORE ON STRATEGY

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* Bitcoin And Strategy In The Age Of AI Mega-IPOs [https://seekingalpha.com/article/4924294-bitcoin-and-strategy-in-the-age-of-ai-mega-ipos]
* Strategy EPS of -$24.45, revenue of $122.4M misses by $2.08M [https://seekingalpha.com/news/4622131-strategy-eps-of--2445-revenue-of-1224m-misses-by-208m]
* Strategy's Q2 earnings hit by unrealized losses on crypto, plans to return STRC to health [https://seekingalpha.com/news/4622060-strategys-q2-earnings-hit-by-unrealized-losses-on-crypto-plans-to-return-strc-to-health]