Hey Recyclersteve, MSTR of no interest to you?

[tdtwedt]

MicroStrategy 'Stretch'-ed it too far with new product launch

MicroStrategy, now renamed Strategy, made a fresh IPO of 5 million shares of its newest perpetual preferred stock: $STRC, aka “Stretch," on July 21.

The offering, led by chief executive Phong Le and executive chairman Michael Saylor, is being sold as a strategic complement to their growing suite of Bitcoin-linked investment products.

But the news is already stirring debate online.

Crypto commentator RunnerXBT said, "stretch investors bout to have their a**es, stretched," which reflects the more general cynicism on social media that Strategy may be overexposing itself to a bullish Bitcoin by offering more complex products.

https://www.thestreet.com/crypto/market ... uct-launch

[tdtwedt]

Stretch Perpetual Preferred Stock ($STRC) Offering and upsizes the deal from $500 Million to $2.521 Billion

$225M in new annual dividend payments…on top of the ~$325M existing dividend obligation (+$35M debt servicing)…on a negative cash-flowing operating business

All paid for by $MSTR common stock dilution, while continuously diluting it further with ATMs + exec comp dumps

https://x.com/RhoRider/status/1948741475262759192

[tdtwedt]

Start to notice how all of these $MSTR bull analysis cheering the amazing “yield” on new preferred shares always cover every detail except the one that actually matters…

Where does the “yield” comes from?

(Hint: it’s from milking unhedged $MSTR common stock bagholders)

https://x.com/RhoRider/status/1949195909847564693

[tdtwedt]

Strategy makes no bitcoin purchases in past week

Strategy (NASDAQ:MSTR) did not buy any bitcoin (BTC-USD) during the July 21-27 period, it disclosed on Monday.

https://seekingalpha.com/news/4472713-s ... -past-week

[tdtwedt]

MSTR hit a high of $543 in November 2024.

Now the stock price is $386 eight months later.

https://www.cnbc.com/quotes/MSTR

[shinnosuke]

https://www.youtube.com/watch?v=XjhA24U4keU

The MSTR quarterly results call on YouTube. Lots of outstanding performance, but this is astounding. They own over 600,000 Bitcoin, a stack they have grown every quarter since August of 2020. Look at that average acquisition cost.

MSTR quarterly call.png (246.89 KiB) Viewed 85 times

[tdtwedt]

Michael Saylor’s Strategy to take on an addition $400m/year in dividend obligation on top of the $630M in existing payment obligations btwn the preferreds and notes.

The company is still cashflow negative, and will pay for this by diluting $MSTR shareholders

https://x.com/RhoRider/status/1951045343707275635

[tdtwedt]

MSTR hit a high of $543 in November 2024.

Now the stock price is $365 nine months later.

https://www.cnbc.com/quotes/MSTR

[shinnosuke]

Swan @Swan
Strategy(MSTR) just posted:

• $14B operating income
• $10B net income
• $32.60 EPS

And yet… it trades at a P/E of 4.7x.
That’s lower than 495 companies in the S&P 500.

This isn’t just a high-performing company.

Strategy is on pace to generate $80 EPS this year.

That’s on just 112M outstanding shares, with most of the value tied directly to BTC.

But the market still doesn’t price it like a Bitcoin proxy—or a tech firm.

Hold BTC.png (162.36 KiB) Viewed 20 times

Strategy now holds 628,791 bitcoin. At current prices, it’s worth over $74B.

How much bitcoin is that, really?

More than every other public company combined.
More than any single nation-state has ever disclosed.
Roughly 3% of total supply—in one ticker.

[tdtwedt]

Yikes! Trading volume on $STRK, Saylor’s first $MSTR Ponzi Preferred share type, tanked to just $13M today

Total trading volume across ALL 3 original preferreds was just $40M. He can’t raise big cash from these

$STRC volume is still crashing

Saylor bid is tapped out!

https://x.com/RhoRider/status/1952848038709674266