Core Insights - Robinhood has introduced trading for Strategy Inc's Variable Rate Series A Perpetual "Stretch" Preferred (STRC), marking the platform's first preferred stock listing [1][2] - STRC is now available for retail investors on Robinhood, allowing them to trade it alongside common stocks and ETFs [2] - STRC features a variable dividend that is reset monthly, designed to maintain its price near the $100 stated amount, and serves as a bitcoin-backed alternative to money markets [4] Company Developments - The STRC IPO was the largest in 2025, raising approximately $2.5 billion, with an additional at-the-market offering of $4.2 billion worth of STRC [4] - As of October 2, Robinhood's website indicated that it did not support preferred stocks prior to this listing [2] - At the time of publication, MSTR shares were up 2.9% in pre-market hours, while STRC was priced at $98.54, reflecting a 0.57% increase [5]