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Cryptocurrency News Articles

Strategy (MSTR) expects its convertible preferred stock Strike (STRK) to be listed on Nasdaq on Thursday

Feb 06, 2025 at 06:06 pm

Strategy, formerly known as MicroStrategy, also introduced new performance metrics when it reported fourth-quarter earnings after the market closed on Wednesday.

Strategy (MSTR) expects its convertible preferred stock Strike (STRK) to be listed on Nasdaq on Thursday

Shares of Strategy (NASDAQ:MSTR) rose 1.3% in pre-market trading after the Tysons Corner, Virginia-based company introduced new performance metrics and said it expects Strategy convertible preferred stock (NASDAQ:STRK) to begin trading on Thursday.

Strategy, formerly known as MicroStrategy, reported a loss of $3.03 per share for the fourth quarter and did not adopt Financial Stability Accounting Board (FASB) rules, which would have helped it avoid a $1 billion impairment loss. Those rules will be adopted this quarter, the company said.

Among the new key performance indicators (KPIs) is an bitcoin (CRYPTO:BTC) gain of $10 billion by 2025. So far this year, it’s achieved $1.24 billion. A second KPI is a bitcoin yield of 15%; year-to-date it’s 2.9%.

Strategy has used about $17 billion out of the $21 billion at-the-market (ATM) equity program so far. In the earnings presentation, the company alluded to the share sales being just 2.9% of the total cumulative trading volume, with Nov. 11-15 being the highest percentage of total trade volume of any week at 7%.

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