Key facts
- MicroStrategy (MSTR) stock is on track for its eleventh losing month in the last twelve.
- Shares are down approximately 41% in June, marking the worst monthly performance since 2022.
- The company announced a new capital management framework.
- MicroStrategy has significantly underperformed Bitcoin since the debut of its perpetual preferred security, STRC.
- Bitcoin has fallen nearly 50% since STRC's IPO, while MSTR has declined about 77%.
MicroStrategy (MSTR) is on pace to record its eleventh losing month in the past twelve, with shares down approximately 41% in June, marking its worst monthly performance since 2022. The company's stock has significantly underperformed Bitcoin since the debut of its perpetual preferred security, STRC, in July 2025.
Shares traded as low as nearly $80 on Friday before rallying more than 12% on Monday following the company's announcement of its new capital management framework. The stock had reached an all-time high of $540 per share in November 2024, before a sustained decline began the following July. This decline coincided with the debut of STRC, which sits above the common stock in the capital structure, offering investors a lower volatility alternative. However, the need for continued issuance of common stock to fund STRC's dividend obligations increased dilution concerns, contributing to MSTR's prolonged underperformance.
Since STRC's IPO, Bitcoin has fallen by almost 50%, while MicroStrategy has declined by roughly 77%. Meanwhile, Bitcoin is on track to post its third consecutive negative quarter and has fallen 20% in June.