NewsHK
Strategy (MSTR) shares climbed more than 7 percent in pre-market trading Monday following a disclosure that the company acquired additional bitcoin and repurchased preferred stock during the prior week.
The trading activity pushed the stock back into positive territory for the year, marking a reversal after a period of significant losses for the firm.
In an 8-K filing released Monday, Strategy reported the purchase of 950 bitcoin and the repurchase of approximately 1.77 million shares of its preferred stock (STRC).
The company also allocated $57.4 million to cover dividends on preferred stock and outstanding interest payments.
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