Matt Cole, CEO of Strive, described the recent trading day as "the most challenging in the history of Digital Credit." He noted that the preferred shares of Strategy (STRC) fell to $82.50, while Strive's shares (SATA) dropped from par to the lower end of the $90 range, before both instruments made a sharp recovery.
Cole attributed the decline to the liquidation of leveraged positions rather than a deterioration in the credit quality of the issuers. He emphasized that Strive's dividend reserves remain intact, the company is not under pressure, and it retains the ability to meet its obligations.