Eleven outta twelve ain't bad: Strategy's MSTR logs 41% June nosedive 📉

Strategy (MSTR) is set to close June with a roughly 41% decline, putting the stock on track for its 11th negative month out of the last 12 and marking its worst monthly performance since 2022, according to data from TradingView. Shares dipped as low as nearly $80 on Friday before rebounding more than 12% on Monday after the company unveiled a new capital management framework.

The slide extends a downturn that began after MSTR reached an all-time high of $540 per share in November 2024. A sustained decline started the following July, coinciding with the debut of the company's perpetual preferred security, STRC, which sits above the common stock in the capital structure and was marketed as a lower-volatility alternative to MSTR equity. The need to keep issuing common stock to help fund STRC's dividend obligations has since amplified dilution concerns, contributing to the stock's prolonged underperformance.

Since STRC's IPO, bitcoin ($BTC) has fallen by almost 50%, while MSTR has declined by roughly 77%. Bitcoin was trading at $58,321.60, up 2.47% on the day, according to market data. The largest cryptocurrency is on track to post its third consecutive negative quarter and has lost 20% in June.

The underperformance gap between MSTR and $BTC highlights how the introduction of STRC has reshaped investor sentiment toward the equity, with preferred holders now absorbing some of the volatility that previously defined the common stock.