Strategy’s Struggles Deepen With 11th Loss Looming in Past Year

Strategy (MSTR) shares are down about 41% in June and are poised to finish the month with a similar decline, marking their weakest monthly performance since 2022 with just one trading day left.

The stock is also set to record its 11th losing month in the past 12. It fell to nearly $80 on Friday before rebounding more than 12% on Monday after the company unveiled a new capital management framework.

MSTR previously hit an all-time high of $540 in November 2024, before entering a prolonged downturn that began the following July, around the period it launched its perpetual preferred security, STRC.

Positioned above common stock in the capital structure, STRC was designed as a lower-volatility alternative to MSTR exposure. However, continued common share issuance to fund STRC dividend obligations has raised dilution concerns, weighing on the stock.

Since STRC’s introduction, Bitcoin has declined nearly 50%, while MSTR has fallen roughly 77%.

Bitcoin itself is on track for a third consecutive negative quarter and is down about 20% so far in June.