Strategy earnings puts tiny STRC front and center
Strategy (formerly MicroStrategy) released Q3 earnings yesterday, spending vast amounts of time on its newest, most complex (and relatively small) preferred stock, a quasi-pegged STRC that its founder somehow believes will come to serve 1 billion people. Based on the 6% gain in its stock price at this morning’s open, it would be easy to conclude that yesterday’s earnings call for Strategy went well. However, reducing that figure by 7% for its single-day loss during yesterday’s trading session, not to mention 1% for this morning’s broad gain across all Nasdaq stocks, and Strategy’s MSTR common stock is actually relatively flat over the past 24 hours. Its muted performance reflects the nature of yesterday’s two-hour earnings call that emphasized future possibilities over tangible results from the company . In particular, Saylor pulled STRC front and center throughout the call, spending more time on the small preferred than the company’s most important stock, MSTR. He...
