Strive
ASSTNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $21.55 Prior regular-session close from the quote source.
- $21.54–$23.41 Regular-session low and high so far today.
- 6.6M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Jan 15 projected Projected for 2027-01-15 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $7.02–$32.08 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own ASST if Strive is a high-beta bet that capital-markets access can turn a bitcoin treasury plus fee-based asset management and Semler’s QuantaFlo business into rising bitcoin-per-share value, not merely a passive bitcoin holding company.
ASST price history
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Investment thesis
What must happen next
Strive’s core engine works only if SATA/preferred/common issuance remains cheaper than the long-term return on bitcoin, allowing the company to capture a financing spread rather than merely dilute holders.HoldingMateriality: High
GAAP cash and cash equivalents increased from $6.155 million at FY2024 year-end to $67.499 million at FY2025 year-end, showing access to capital after the reverse acquisition. If this holds, new capital raises can increase per-share intrinsic value; if it breaks, growth in bitcoin holdings can still destroy value per share.
Watch: Preferred or SATA investors demand sharply higher coupons, discounts, covenants, or redemption features that transfer the bitcoin upside away from common shareholders.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP cash and cash equivalents increased from $6.155 million at FY2024 year-end to $67.499 million at FY2025 year-end, showing access.
Open source ↗Strive’s bitcoin strategy must produce accretive bitcoin accumulation through disciplined purchases and bitcoin-rich M&A, not just asset growth driven by issuing stock at a premium.HoldingMateriality: High
GAAP assets rose from $28.197 million at FY2024 year-end to $745.527 million at FY2025 year-end after Strive began executing its bitcoin treasury strategy. This is the difference between a compounding vehicle and a promotional treasury trade; owners need bitcoin per share to rise after dilution.
Watch: Bitcoin-rich acquisition targets demand premiums that eliminate the claimed discount or alpha opportunity.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP assets rose from $28.197 million at FY2024 year-end to $745.527 million at FY2025 year-end after Strive began executing its.
Open source ↗The institutional asset-management business must turn Strive’s over-$2.4 billion AUM into recurring fee revenue that offsets corporate overhead and reduces dependence on bitcoin financing windows.HoldingMateriality: Medium
Item 1 says Strive managed over $2.4 billion in AUM as of December 31, 2025 and that these activities provide recurring, fee-based revenue streams that increase with AUM. A real fee base would make Strive less fragile in bitcoin bear markets; without it, the company remains primarily dependent on capital issuance and bitcoin appreciation.
Watch: Institutional clients redeem assets or refuse to allocate to Strive products because bitcoin-treasury execution overshadows the asset-management mandate.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Item 1 says Strive managed over $2.4 billion in AUM as of December 31, 2025 and that these activities provide.
Open source ↗Semler’s QuantaFlo business must provide operating diversification and potential medical-device upside, rather than becoming a distraction acquired mainly for its bitcoin reserve.HoldingMateriality: Medium
MD&A says Semler Scientific became a wholly owned subsidiary on January 16, 2026, bringing both an existing bitcoin reserve and an operating business. If QuantaFlo contributes cash and growth, Strive gains a second operating pillar; if it stalls, the Semler deal is mainly a bitcoin acquisition with integration and healthcare execution risk.
Watch: The FDA declines or materially delays QuantaFlo’s 510(k) expanded-labeling clearance.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
MD&A says Semler Scientific became a wholly owned subsidiary on January 16, 2026, bringing both an existing bitcoin reserve and.
Open source ↗Strive must keep a conservative liquidity and liability profile so bitcoin volatility does not force sales at unfavorable prices.StrengtheningMateriality: Medium
GAAP liabilities were $14.289 million at FY2025 year-end against $745.527 million of GAAP assets. The long-hold bitcoin thesis only works if the company can survive drawdowns without becoming a forced seller or issuing distressed capital.
Watch: Strive issues secured debt, margin loans, or preferred securities with cash obligations that become burdensome during a bitcoin drawdown.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP liabilities were $14.289 million at FY2025 year-end against $745.527 million of GAAP assets.
Open source ↗
Full investment case & evidence
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Original research
Strive’s core engine works only if SATA/preferred/common issuance remains cheaper than the long-term return on bitcoin, allowing the company to capture a financing spread rather than merely dilute holders. If this holds, new capital raises can increase per-share intrinsic value; if it breaks, growth in bitcoin holdings can still destroy value per share.
Strive’s bitcoin strategy must produce accretive bitcoin accumulation through disciplined purchases and bitcoin-rich M&A, not just asset growth driven by issuing stock at a premium. This is the difference between a compounding vehicle and a promotional treasury trade; owners need bitcoin per share to rise after dilution.
The institutional asset-management business must turn Strive’s over-$2.4 billion AUM into recurring fee revenue that offsets corporate overhead and reduces dependence on bitcoin financing windows. A real fee base would make Strive less fragile in bitcoin bear markets; without it, the company remains primarily dependent on capital issuance and bitcoin appreciation.
Semler’s QuantaFlo business must provide operating diversification and potential medical-device upside, rather than becoming a distraction acquired mainly for its bitcoin reserve. If QuantaFlo contributes cash and growth, Strive gains a second operating pillar; if it stalls, the Semler deal is mainly a bitcoin acquisition with integration and healthcare execution risk.
Strive must keep a conservative liquidity and liability profile so bitcoin volatility does not force sales at unfavorable prices. The long-hold bitcoin thesis only works if the company can survive drawdowns without becoming a forced seller or issuing distressed capital.
All standing thesis claims
Original report summary
Strive is a high-beta bet that capital-markets access can turn a bitcoin treasury plus fee-based asset management and Semler’s QuantaFlo business into rising bitcoin-per-share value, not merely a passive bitcoin holding company.
Bull case and bear case
Bull case and bear case for Strive
Where the evidence on Strive stands: Holding on the latest evidence (Oct 14, 2026). Of its 5 thesis points, 1 strengthening and 4 holding.
Bull case: what the evidence supports
Strive’s core engine works only if SATA/preferred/common issuance remains cheaper than the long-term return on bitcoin, allowing the company to capture a financing spread rather than merely dilute holders.
Strive’s bitcoin strategy must produce accretive bitcoin accumulation through disciplined purchases and bitcoin-rich M&A, not just asset growth driven by issuing stock at a premium.
The institutional asset-management business must turn Strive’s over-$2.4 billion AUM into recurring fee revenue that offsets corporate overhead and reduces dependence on bitcoin financing windows.
Semler’s QuantaFlo business must provide operating diversification and potential medical-device upside, rather than becoming a distraction acquired mainly for its bitcoin reserve.
Strive must keep a conservative liquidity and liability profile so bitcoin volatility does not force sales at unfavorable prices.
Bear case: what would count against it
Preferred or SATA investors demand sharply higher coupons, discounts, covenants, or redemption features that transfer the bitcoin upside away from common shareholders.
Bitcoin-rich acquisition targets demand premiums that eliminate the claimed discount or alpha opportunity.
Institutional clients redeem assets or refuse to allocate to Strive products because bitcoin-treasury execution overshadows the asset-management mandate.
Thesis-Break Engine
Thesis-break watch · Strive
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedOther material event.
Strive filed an SEC 8-K on 2026-10-14: Other material event. It is a dated development that tests the current thesis.
- MixedOther material event.
Strive filed an SEC 8-K on 2026-10-13: Other material event. It is a dated development that tests the current thesis.
- MixedMaterial modification to security holder rights.
Strive filed an SEC 8-K on 2026-10-13: Material modification to security holder rights. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Preferred or SATA investors demand sharply higher coupons, discounts, covenants, or redemption features that transfer the bitcoin upside away from common shareholders.
- Bitcoin-rich acquisition targets demand premiums that eliminate the claimed discount or alpha opportunity.
- Institutional clients redeem assets or refuse to allocate to Strive products because bitcoin-treasury execution overshadows the asset-management mandate.
- The FDA declines or materially delays QuantaFlo’s 510(k) expanded-labeling clearance.
- Strive issues secured debt, margin loans, or preferred securities with cash obligations that become burdensome during a bitcoin drawdown.
ASST news
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Financial statements
ASST income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
ASST: quick answers
- When does Strive (ASST) report earnings next?
- Strive's next results are projected for January 15, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 6, 2026. Earnings calendar
- What is ASST's short interest?
- As of October 30, 2026, 17.5M ASST shares were sold short, 14.8% of its shares outstanding, down 9.0% from the count before. At the stock's average daily volume that is 2.1 days to cover. FINRA publishes the count twice a month. ASST short interest history