Bitcoin treasury Strategy’s executive vice president and general counsel completely sold his MSTR stock holdings. Since then, the stock has plunged nearly 6% to $136.52 and triggered skepticism over further upside.
Strategy’s EVP Thomas Chow Joins Executives Selling Class A Shares
According to the latest SEC filing, Thomas Chow sold 106 MSTR Class A shares at $138.75 per share. He acquired the shares days earlier under the Strategy’s employee stock purchase plan (ESPP).
While the net sale was worth almost $14,707, Strategy’s EVP exiting MSTR stock entirely raised speculation. He still holds small direct holdings of preferred stocks, including Series A Perpetual Stretch Preferred Stock and Series A Perpetual Strike Preferred Stock.
Notably, Thomas Chow became EVP, General Counsel and Secretary in December 2025 after Wei-Ming Shao’s retirement. However, his stock ownership in Class A common shares and derivative transactions has been low.
Strategy insiders have sold MSTR stock at a record rate this year. Director Jarrod Patten and other executives executed larger sales in recent months. This continued even as the Bitcoin treasury’s unrealized losses swung to profit and began boosting BTC holdings again.
As CoinGape reported, Michael Saylor’s Strategy paused weekly Bitcoin buys again, just a week after resuming BTC purchases. The firm buyback over 1.8 million STRC shares worth over $176 million using USD Cash.
MSTR Stock Under Pressure?
While a single small ESPP-related sale is usually treated as routine rather than a sentiment-shifting event, but MSTR stock is again under pressure amid stock dilution. Outstanding Class A shares have surged to 400.85 million this week from 351.96 million in June.
The stock closed 4.40% lower at $136.52 on Tuesday, plunging from an intraday high of $139.31. Trading volume was lower at 19 million, lower than average of 23 million. In premarket hours today, MSTR stock has surged more than 1.67% amid a surge in Bitcoin price towards $79,000.
MSTR stock has notably surged over 45% over the last month, amid Bitcoin price recovery to $82,000. However, the stock is still down over 7% year-to-date (YTD). Meanwhile, Wall Street analysts from Canaccord Genuity, TD Cowen, and Bernstein remain optimistic on MSTR stock, raising price target to $180.
The STRC stock is currently trading at $98, just below the $100 par value. The stock is yet to reclaim the level despite a recent rebound.
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