Strategy (formerly MicroStrategy) lists four preferred shares on US stock exchanges: STRF, STRC, STRK, STRD.
Taken in this order — their order of seniority — the last letters of their ticker symbols form a pattern that has been seized upon by social media users with the jokes just writing themselves.
Strategy’s preferred shares are literally FCKD.
On November 3, the company announced plans to list STRE on a non-US and non-stock exchange, the Euro MTF Luxembourg multilateral trading facility. STRE isn’t currently trading on any public market.
Unfortunately for Strategy and rude word fans everywhere, when STRE does launch, it will ruin the joke somewhat. This is despite the company choosing to rank it beneath STRC, instead of STRK.
That is, of course, unless Saylor or his fans can find another “hilarious” way of arranging or interpreting the letters F C E K D.
Read more: Is MicroStrategy the bitcoin bank Hal Finney dreamed of?
Seniority refers to a security’s rank in a company’s stack of capital such as secured bonds (typically most senior) to common stock (typically least senior).
All Strategy preferred shares are junior to its bonds and senior to its common stock.
Several people have cheered on the FCKD joke, encouraging Saylor to issue a preferred stock with the ticker symbol STRU.
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Source: https://protos.com/strategys-preferred-shares-spell-out-an-unfortunate-acronym-fckd/