Strategy loses its bitcoin premium as enterprise mNAV dips below 1
The Block·
60-second summary
Strategy's preferred shares, STRC, briefly plummeted to a record low of $71.40 on Friday, approximately 25% below par, as the enterprise's management net asset value (mNAV) dipped below 1. This significant decline underscores concerns about the company's financial health, potentially impacting investor confidence and the overall value of its shares in the cryptocurrency market.
Strategy's STRC briefly fell to a record low of $71.40 on Friday, leaving the preferred shares about 25% below par.