Strategy (formerly MicroStrategy) lists four preferred shares on US stock exchanges: STRF, STRC, STRK, STRD.Taken in this order — their order of seniority — the last letters of their ticker symbols form a pattern that has been seized upon by social media users with the jokes just writing themselves.Strategy’s preferred shares are literally FCKD.
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45 sats \ 2 replies \ @grayruby 12h
Which is what the common holders are as they get perpetually diluted to pay the prefs.
The European one they just launched is STRM.
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52 sats \ 1 reply \ @euthymic 11h
Yes - MSTR holders get wrecked. But the average common stock holder doesn't understand this.
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12 sats \ 0 replies \ @grayruby 11h
They might not get totally wrecked as once the price to NAV settles the stock price should go up with the price of Bitcoin but they will be perpetually diluted to pay the prefs. So you need the stock to go up at least at the rate of dilution to break even. .
It's kind of like when you get a 5% raise but the money supply grows by 10%. You didn't get wrecked in nominal terms but you are slowly getting poorer in real terms.
Now maybe MSTR can continue this financial engineering strategy long enough to eventually leverage their huge stack and be some kind of Bitcoin bank and have a viable business that way. Who knows.
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42 sats \ 1 reply \ @SimpleStacker 14h
Lmao. Did they do that on purpose?
I like how Tesla model numbers spell out S3XY
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42 sats \ 0 replies \ @0xbitcoiner OP 14h
Ahahah! The prices aren't sexy at all!
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33 sats \ 0 replies \ @SpaceHodler 10h
@ClimbThatLadder, who has a TradFi background and is probably far from what many on here would consider a 'true bitcoiner', posted a comment on X about how Strategy could fail. A good read.
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0 sats \ 0 replies \ @BeeRye 13h
hahahaha
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