Strive CEO Matt Cole called the past trading day "the toughest in the history of Digital Credit." According to him, Strategy preferred shares (STRC) dropped to $82.50, while Strive securities (SATA) fell from par to the lower part of the $90 range, after which both instruments rebounded sharply.

Cole stated that the cause was the liquidation of leveraged positions rather than a deterioration in the issuers' credit quality. He noted that Strive's dividend reserves were not affected, the company is not under pressure and retains the ability to meet its obligations.

Source: ForkLog