Michael Saylor Continues to Build Out His Own Yield Curve

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Disclaimer: The analyst who wrote this article owns shares in Strategy. Strategy (MSTR), under the leadership of Executive Chairman Michael Saylor, may have just finalized its largest preferred stock issuance to date with an STRC (Stretch) offering joining the STRD, STRF and STRK preferred shares to build out the company's credit yield curve. Among these, STRC is ranked high in seniority and low in expected volatility. It adds a new short-duration layer to Strategy’s financing mix and diversifie...