Benchmark reiterates $570 target on Strategy after STRC selloff, says preferred stock is ‘not a stablecoin’
The Block·
60-second summary
Benchmark analysts are reiterating their $570 target on Strategy after recent selloffs, stating that STRC's drop below $83 was a leverage flush, not a "depeg" from the US dollar. This suggests investors should not be overly concerned about the price action, and the analysts remain bullish on the asset's long-term prospects, potentially impacting its market value.
Benchmark said STRC's drop below $83 was a leverage flush, not a "depeg," and reiterated its $570 target on Strategy.