Strategy (MSTR) shares have fallen about 41% in June and are on pace to finish the month down by a similar margin, marking their worst monthly performance since 2022 with just one trading session remaining.
The stock is also set to register its 11th losing month in the past 12. Shares dropped to nearly $80 on Friday before rebounding more than 12% on Monday after the company announced a new capital management framework.
MSTR previously climbed to an all-time high of $540 in November 2024, before entering a prolonged downtrend that began the following July, coinciding with the launch of its perpetual preferred security, STRC.
Sitting above common equity in the capital structure, STRC was designed to provide a lower-volatility alternative to MSTR exposure. However, continued issuance of common shares to support STRC dividend payments has raised dilution concerns, weighing on the stock.
Since STRC’s debut, Bitcoin has declined by nearly 50%, while MSTR has dropped roughly 77%.
Meanwhile, Bitcoin is on track for its third consecutive negative quarter and has fallen around 20% in June.
