Strategy (MSTR) Stock Falls 9% as Securities Lawsuit and Bitcoin Drop Pile On

Strategy (MSTR) fell another 9% as a securities fraud investigation was announced and Bitcoin dropped below $60,000. The company's preferred stock is trading below par, cutting off its main funding source for Bitcoin purchases.

• MSTR fell 9% on Thursday to its lowest since March 2024, extending a 30% five-day collapse
• Rosen Law Firm is investigating Strategy for potential securities fraud over 'materially misleading' disclosures
• Strategy's STRC preferred stock trades 24% below par value, blocking its main Bitcoin-buying funding mechanism
• Annual dividend obligations ballooned from $300M to $1.2B while cash reserves fell 38%
• CryptoQuant urged Strategy to stop buying Bitcoin and rebuild cash; the company bought just 520 BTC last week

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Last updated 26 Jun 2026