Movement Alert｜Strive Falls 9.42% in After-Hours Trading, $1 Billion ATM Preferred Stock Plan Continues to Pressure Shares

Market Focus10-30 07:35

On October 30, Strive fell 9.42% in After-Hours Trading, trading at $23.01 per share, with turnover of $8.23 million.

The move followed continued pressure from the company’s recently announced agreement to sell up to $1 billion of 15% Series A perpetual SATS preferred stock through an at-the-market program.

Under the plan, proceeds may be used for general corporate purposes including buying bitcoin and bitcoin-related products, working capital, and income-generating assets. The financing came shortly after Strive closed an upsized IPO of 7 million SATS preferred shares that raised $630 million. The company also disclosed that it bought 6,182 bitcoins at an average price of about $82,732 between October 17 and 23, lifting total holdings to about 43,000 coins. The scale and pace of fresh preferred issuance appear to have outweighed support from its expanding bitcoin treasury strategy.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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