Why Strive Stock Surged This Week
Shares of Strive (NASDAQ:ASST) soared 20.5% this week, according to data provided by S&P Global Market Intelligence. The stock’s jump came as the company completed a $630 million preferred stock offering to fund its Bitcoin acquisition strategy.
Strive stock closed at $29.03 on Thursday, Oct. 22, up 20.5% from Friday, Oct. 16’s close. Across those sessions, the S&P 500 was roughly flat at 0%.
Strive closed an initial public offering of 7 million shares of its 15% Series A Perpetual SATS Preferred Stock at $90 per share on Tuesday, generating $630 million in gross proceeds. The proceeds will fund general corporate purposes and additional Bitcoin purchases.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.